Commission Decision of 15/12/2010 declaring a concentration to be compatible with the common market (Case No COMP/M.6056 - DNB NOR BANK / BANK DNB NORD) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic) (.PICT.) |EUROPEAN COMMISSION | Brussels , 15.12.2010 PUBLIC VERSION SG-Greffe(2010) D/20186 C(2010) 9406 MERGER PROCEDURE ARTICLE 6(1)(b) DECISION SIMPLIFIED PROCEDURE To the notifying party Dear Madam(s) and/or Sir(s), Subject: Case No COMP/M.6056 - DNB NOR BANK / BANK DNB NORD Notification of 17.11.2010 pursuant to Article 4 of Council Regulation (EC) No 139/2004 [1] Publication in the Official Journal of the European Union No C 319, 24.11.2010 p.5 1.
On 17/11/2010, the European Commission received a notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) No 139/2004 by which the undertaking DnB NOR Bank ASA ("DnB NOR Bank", Norway), belonging to the DnB NOR group ("DnB NOR", Norway) acquires within the meaning of Article 3(1)(b) of the Merger Regulation control of the whole of Bank DnB NORD A/S ("Bank DnB NORD", Denmark) by way of purchase of shares. 2. The business activities of the undertakings concerned are: - for DnB NOR Bank :banking services; - for DnB NOR :banking and insurance services; - for Bank DnB NORD :banking services.
3. After examination of the notification, the European Commission has concluded that the notified operation falls within the scope of the Merger Regulation and of paragraph 5(c) and 5(d) of the Commission Notice on a simplified procedure for treatment of certain concentrations under Council Regulation (EC) No 139/2004 [2] . 4. For the reasons set out in the Notice on a simplified procedure, the European Commission has decided not to oppose the notified operation and to declare it compatible with the internal market and with the EEA Agreement. This decision is adopted in application of Article 6(1)(b) of the Merger Regulation.
For the Commission, (signed) Alexander ITALIANER Director General [1]OJ L 24, 29.1.2004, p. 1 ("the Merger Regulation"). With effect from 1 December 2009, the Treaty on the Functioning of the European Union ("TFEU") has introduced certain changes, such as the replacement of "Community" by "Union" and "common market" by "internal market". The terminology of the TFEU will be used throughout this decision. [2] OJ C 56, 5.3.2005, p. 32.