Commission Decision of 26/09/2002 declaring a concentration to be compatible with the common market (Case No IV/M.2954 - BAYERISCHE LANDESBANK / J.P. MORGAN CHASE / LEHMAN BROTHERS / FORMULA ONE GROUP) according to Council Regulation (EEC) No 4064/89 (Only the English text is authentic) Official Journal 249 , 16/10/2002 P. 0020 - 0020 Commission Decision of 26/09/2002 declaring a concentration to be compatible with the common market (Case No IV/M.2954 - BAYERISCHE LANDESBANK / J.P. MORGAN CHASE / LEHMAN BROTHERS / FORMULA ONE GROUP) according to Council Regulation (EEC) No 4064/89 (Only the English text is authentic) To the notifying parties Dear Madam(s) and/or Sir(s), Subject:
Case No. COMP/M.2954 Bayerische Landesbank / J. P. Morgan Chase / Lehman Brothers / Formula One Group Notification of 02.09.2002 pursuant to Article 4 of Council Regulation (EEC) No. 4064/89 [1] [1] OJ L 395, 30.12.1989 p. 1; corrected version OJ L 257 of 21.9.1990, p. 13, as last amended by Regulation (EC) No 1310/97, OJ L 180, 9.7.1997, p. 1, corrigendum in OJ L 40, 13.2.1998, p. 17. Publication in the Official Journal of the European Communities No. C215, 11.09.2002, page 5. 1. On 02.09.2002 , the Commission received a notification of a proposed concentration pursuant to Article 4 of Council Regulation (EEC) No 4064/89 [2] by which the undertakings Bayerische Landesbank ("BLB", Germany) J.P.
Morgan Chase Bank ("JPM", USA), Lehmann Commercial Paper Inc. ("Lehmann Brothers", USA) acquire within the meaning of Article 3(1)(b) of the Council Regulation control of the whole of the undertaking SLEC Holdings Limited (Jersey) which in turn controls a number of Formula One companies (hereinafter: "Formula One Group") by way of exercise of security rights in the undertakings Formel Eins Beteiligungs GmbH ("FEB", Germany) and Speed Investments Limited (Jersey). [2] OJ L 395, 30.12.1989 p. 1; corrigendum OJ L 257 of 21.9.1990, p. 13; Regulation as last amended by Regulation (EC) No 1310/97 (OJ L 180, 9.
7. 1997, p. 1, corrigendum OJ L 40, 13.2.1998, p. 17). The business activities of the undertakings concerned are: for BLB: banking activities, for JPM: financial services, for Lehmann Brothers: financial services, for SLEC: holding company owning the commercial rights in the Formula One Series. 2. 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 b, 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. 3. 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 Member of the Commission