Commission Decision of 11/02/2005 declaring a concentration to be compatible with the common market (Case No IV/M.3675 - CITIGROUP / BALTISCHES HAUS / UAB PALINK / JV) according to Council Regulation (EEC) No 4064/89 (Only the English text is authentic) | |Brussels, 11.02.2005 SG-Greffe(2005) D/200628-200629 To the notifying parties Dear Madam(s) and/or Sir(s), Subject : Case No. COMP/M.3675 – Citigroup/Baltisches Haus/UAB Palink/JV Notification of 14.01.2005 pursuant to Article 4 of Council Regulation (EC) No. 139/2004 [1] Publication in the Official Journal of the European Union No. C 18, 22.01.2005 , page 3 1.
On 14.01.2005 , the Commission received notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) No. 139/2004 by which the undertakings Beleggingsmaatschappij Smitho B.V., which trades as CVC International Palink (“CVC International”, the Netherlands), and which is controlled by Citigroup Inc. (USA), and Baltisches Haus Limited (“BH”, Isle of Man), acquire within the meaning of Article 3(1)(b) of the Council Regulation joint control of UAB Palink (Lithuania), by way of purchase of shares. The business activities of the undertakings concerned are : - for CVC International: holding-company for the business unit managing Citigroup’s equity investments in emerging markets, - for Citigroup Inc. :global financial services company, - for BH: holding company in food retail and property investment, and - for UAB Palink: retail of daily consumer goods in Lithuania.
2. After examination of the notification, the Commission has concluded that the notified operation falls within the scope of Council Regulation (EC) No. 139/2004 and of paragraph 5 (c) of the Commission Notice on a simplified procedure for treatment of certain concentrations under Council Regulation (EC) No139/2004[2]. 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 (EC) No.
139/2004. For the Commission, signed, Neelie KROES Member of the Commission [1] OJ L 24, 29.1.2004 p. 1 [2] Available on DG COMP website: http://europa.eu.int/comm/competition/mergers/legislation/consultation/simplified_tru.pdf. MERGER PROCEDURE ARTICLE 6(1)(b) DECISION SIMPLIFIED PROCEDURE PUBLIC VERSION