Commission Decision of 03/05/2012 declaring a concentration to be compatible with the common market (Case No COMP/M.6524 - SBERBANK OF RUSSIA / BNP PARIBAS PERSONAL FINANCE / BNP PARIBAS VOSTOK) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic) |EUROPEAN COMMISSION | Brussels, 03/05/2012 PUBLIC VERSION C(2012) 3085 SIMPLIFIED MERGER PROCEDURE To the notifying parties | | Dear Madam(s) and/or Sir(s), Subject: Case No COMP/M.6524 - SBERBANK OF RUSSIA/ BNP PARIBAS PERSONAL FINANCE/ BNP PARIBAS VOSTOK Commission decision pursuant to Article 6(1)(b) of Council Regulation (EC) No 139/2004 [1] 1.
On 30/03/2012, the European Commission received notification of a proposed concentration pursuant to Article 4 of the Merger Regulation by which Sberbank of Russia OAO ("Sberbank", Russia) acquires, within the meaning of Article 3(1)(b) of the Merger Regulation joint control over BNP Paribas Vostok together with BNP Paribas S.A. by way of purchase of shares. 2. The business activities of the undertakings concerned are: - for Sberbank: banking; - for BNP Paribas Group: banking and investment solutions; - for BNPP Vostok: deposits, retail loans and wholesale financing. [2] 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(a) of the Commission Notice on a simplified procedure for treatment of certain concentrations under Council Regulation (EC) No 139/2004 [3] .
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] Publication in the Official Journal of the European Union No C107, 13/04/2012, p.6 [3] OJ C 56, 5.3.2005, p. 32.