Commission Decision of 14/02/2005 declaring a concentration to be compatible with the common market (Case No IV/M.3677 - DANSKE BANK / NATIONAL EUROPE HOLDINGS / NORTHERN BANK INSURANCE SERVICES) according to Council Regulation (EEC) No 4064/89 (Only the English text is authentic) | |Brussels, 14-II-2005 SG-Greffe(2005) D/200649 To the notifying party Dear Sirs, Subject : Case No. COMP/M.3677-Danske Bank/National Europe Holdings/Northern Bank Insurance Service 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 20, date 25.01.2005. 1. On 14.01.2005 the Commission received a notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) No 139/2004 by which the undertaking Danske Bank A/S (“Danske Bank”, Denmark) acquires within the meaning of Article 3(1)(b) of the Council Regulation control of the whole of the undertakings National Europe Holdings Ltd (“NEHIL”, Ireland) and Northern Bank Insurance Services Limited (“NBIS”, Ireland) by way of purchase of shares. 2. The business activities of the undertakings concerned are : - for Danske Bank: financial services, mainly in Denmark and other Scandinavian countries; - for NEHIL: holding company having sole ownership of the National Irish Bank Ltd and the Northern Bank Ltd., operating respectively in the Republic of Ireland and in Northern Ireland (UK); - for NBIS: wealth services and life insurance.
3. 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, subparagraph c of the Commission Notice on a simplified procedure for treatment of certain concentrations under Council Regulation (EC) No139/2004[2]. 4. 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