Commission Decision of 06/02/2004 declaring a concentration to be compatible with the common market (Case No COMP/M.3353 - BANQUE POPULAIRE / DZ BANK / VR FACTOREM) according to Council Regulation (EEC) No 4064/89 (Only the English text is authentic)

Decision // 06/02/2004 // 3 min read
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Commission Decision of 06/02/2004 declaring a concentration to be compatible with the common market (Case No IV/M.3353 - BANQUE POPULAIRE / DZ BANK / VR FACTOREM) according to Council Regulation (EEC) No 4064/89 (Only the English text is authentic) Official Journal 044 , 20/02/2004 P. 0006 - 0006

Commission Decision of 06/02/2004 declaring a concentration to be compatible with the common market (Case No IV/M.3353 - BANQUE POPULAIRE / DZ BANK / VR FACTOREM) according to Council Regulation (EEC) No 4064/89 (Only the English text is authentic)

To the notifying parties

Dear Madam and Sirs,

Subject: Case No. COMP/M.3353 - Banque Populaire/ DZ Bank/ VR Factorem Notification of 06.01.2004 pursuant to Article 4 of Council Regulation (EEC) No. 4064/89 [1], as last amended by Regulation (EC) No 1310/97 [2] Publication in the Official Journal of the European Union No. C 12, 16.01.2004, page 5

[1] OJ L 395, 30.12.1989 p. 1; corrigendum: OJ L 257, 21.9.1990, p. 13.

[2] OJ L 180, 9. 7. 1997, p. 1; corrigendum OJ L 40, 13.2.1998, p. 17.

  1. On 6 January 2004, the Commission received a notification of a proposed concentration pursuant to Article 4 of Council Regulation (EEC) No 4064/89, as last amended by Regulation (EC) No 1310/97, by which the undertakings Natexis Factorem SA (“Natexis Factorem”) controlled by the French Banque Populaire Group (“Banque Populaire”) and VR Leasing AG (“VR Leasing”) controlled by the German DZ Bank AG (“DZ Bank”) acquire within the meaning of Article 3(1)(b) of the Council Regulation joint control of the German undertaking VR Factorem GmbH (“VR Factorem”) by way of purchase of shares.
  1. The business activities of the undertakings concerned are:

  • for undertaking Natexis Factorem: factoring

  • for undertaking Banque Populaire: financial services

  • for undertaking VR Leasing: leasing and complementary services

  • for undertaking DZ Bank: financial services

for undertaking VR Factorem: factoring.

  1. After examination of the notification, the Commission has concluded that the notified operation falls within the scope of Council Regulation (EEC) No. 4064/89 and of paragraph 4, subparagraph a of the Commission Notice on a simplified procedure for treatment of certain concentrations under Council Regulation (EEC) No 4064/89 [3].

[3] OJ C 217, 29.07.2000, p. 32.

  1. For the reasons set out in the Notice on a simplified procedure, the Commission has decided not to oppose the notified operation and to declare it compatible with the common market and with the EEA Agreement. This decision is adopted in application of Article 6(1)(b) of Council Regulation (EEC) No. 4064/89.

For the Commission

Mario MONTI, signed Member of the Commission

Concentrations between undertakings , Competition