Commission Decision of 07/06/2012 declaring a concentration to be compatible with the common market (Case No COMP/M.6579 - MITSUBISHI CORPORATION / DEVELOPMENT BANK OF JAPAN / DVB BANK SE / TES HOLDINGS) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic) |EUROPEAN COMMISSION | Brussels, 07/06/2012 C(2012)3875 PUBLIC VERSION SIMPLIFIED MERGER PROCEDURE | | To the notifying parties: Dear Madam(s) and/or Sir(s), Subject: Case No COMP/M.6579 - MITSUBISHI CORPORATION / DEVELOPMENT BANK OF JAPAN / DVB BANK SE / TES HOLDINGS Commission decision pursuant to Article 6(1)(b) of Council Regulation (EC) No 139/2004 [1] 1.
On 03/05/2012, the European Commission received notification of a proposed concentration pursuant to Article 4 of the Merger Regulation by which the undertakings Mitsubishi Corporation ("MC", Japan), the Development Bank of Japan ("DBJ", Japan) and DVB Bank ("DVB", Germany), which is controlled by DZB Group ("DZB", Germany), acquire within the meaning of Article 3(1)(b) of the Merger Regulation joint control of the undertaking TES Holdings Ltd. and its subsidiaries ("TES", UK) by way of purchase of shares. 2. The business activities of the undertakings concerned are: - for MC: general trading activities in various industries including energy, metals, machinery, chemicals, food and general merchandise. - for DBJ: financial services, including integrated investment and loan services as well as consulting and advisory services. - for DVB: financial services, specialising in international transport finance, including integrated financing solutions and advisory services in respect of Shipping Finance, Aviation Finance and Land Transport Finance. - for DZB: central institution for German cooperative financial network ("Volksbanken Raiffeisenbanken") and corporate banking services. - for TES: aircraft engine management, short term end of life aircraft engine leasing (“stub leasing”) and aircraft part and material sales. [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 C139, 15.05/2012, p.25. [3] OJ C 56, 5.3.2005, p. 32.