# C_2016231EN.01002201.xml

| 25.6.2016 | EN | Official Journal of the European Union | C 231/22 |
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25.6.2016

EN

Official Journal of the European Union

C 231/22

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Prior notification of a concentration

(Case M.8077 — bancopopular-e/Banco Popular Portugal)

Candidate case for simplified procedure

(Text with EEA relevance)

(2016/C 231/06)

| 1. | On 16 June 2016, the Commission received a notification of a proposed acquisition pursuant to Article 4 of Council Regulation (EC) No 139/2004 (1) by which the undertaking bancopopular-e SA (‘E-Com’, Spain), a joint venture controlled by Banco Popular Español SA (‘Banco Popular’, Spain) and certain private affiliated funds managed by Värde Partners Inc. (‘Värde’, United States), acquires, within the meaning of Article 3(1)(b) of the Merger Regulation, sole control over the payment cards' business (the ‘Assets’) of Banco Popular Portugal, SA (‘BPOP’, Portugal), a wholly-owned subsidiary of Banco Popular. |
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1.

On 16 June 2016, the Commission received a notification of a proposed acquisition pursuant to Article 4 of Council Regulation (EC) No 139/2004 (1) by which the undertaking bancopopular-e SA (‘E-Com’, Spain), a joint venture controlled by Banco Popular Español SA (‘Banco Popular’, Spain) and certain private affiliated funds managed by Värde Partners Inc. (‘Värde’, United States), acquires, within the meaning of Article 3(1)(b) of the Merger Regulation, sole control over the payment cards' business (the ‘Assets’) of Banco Popular Portugal, SA (‘BPOP’, Portugal), a wholly-owned subsidiary of Banco Popular.

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| 2. | The business activities of the undertakings concerned are:






  — | E-Com provides services related to the issuing of payment cards and, to a lesser extent, to insurance distribution within the Spanish market. |
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2.

The business activities of the undertakings concerned are:

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E-Com provides services related to the issuing of payment cards and, to a lesser extent, to insurance distribution within the Spanish market.

| — | Banco Popular specializes in retail and commercial banking. It is also active in the issuing of payment cards in Portugal, and to a lesser extent, in the provision of insurance services and in the distribution of insurance services in Spain and Portugal. |
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Banco Popular specializes in retail and commercial banking. It is also active in the issuing of payment cards in Portugal, and to a lesser extent, in the provision of insurance services and in the distribution of insurance services in Spain and Portugal.

| — | Värde is a global investment firm, specializing in alternative investments and with expertise in partnering with global financial institutions. Its activities are focused primarily in the United States, Europe and Asia. |
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Värde is a global investment firm, specializing in alternative investments and with expertise in partnering with global financial institutions. Its activities are focused primarily in the United States, Europe and Asia.

| — | The Assets comprise the payment card issuing business of BPOP in Portugal. |
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The Assets comprise the payment card issuing business of BPOP in Portugal.

| 3. | On preliminary examination, the Commission finds that the notified transaction could fall within the scope of the Merger Regulation. However, the final decision on this point is reserved. Pursuant to the Commission Notice on a simplified procedure for treatment of certain concentrations under Council Regulation (EC) No 139/2004 (2) it should be noted that this case is a candidate for treatment under the procedure set out in this Notice. |
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3.

On preliminary examination, the Commission finds that the notified transaction could fall within the scope of the Merger Regulation. However, the final decision on this point is reserved. Pursuant to the Commission Notice on a simplified procedure for treatment of certain concentrations under Council Regulation (EC) No 139/2004 (2) it should be noted that this case is a candidate for treatment under the procedure set out in this Notice.

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| 4. | The Commission invites interested third parties to submit their possible observations on the proposed operation to the Commission.
  Observations must reach the Commission not later than 10 days following the date of this publication. Observations can be sent to the Commission by fax (+32 22964301), by email to COMP-MERGER-REGISTRY@ec.europa.eu or by post, under reference M.8077 — bancopopular-e/Banco Popular Portugal, to the following address:





  European Commission |
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| Directorate-General for Competition |
| Merger Registry |
| 1049 Bruxelles/Brussel |
| BELGIQUE/BELGIË |

4.

The Commission invites interested third parties to submit their possible observations on the proposed operation to the Commission.

Observations must reach the Commission not later than 10 days following the date of this publication. Observations can be sent to the Commission by fax (+32 22964301), by email to COMP-MERGER-REGISTRY@ec.europa.eu or by post, under reference M.8077 — bancopopular-e/Banco Popular Portugal, to the following address:

European Commission

Directorate-General for Competition

Merger Registry

1049 Bruxelles/Brussel

BELGIQUE/BELGIË

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(1)  OJ L 24, 29.1.2004, p. 1 (the ‘Merger Regulation’).

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(2)  OJ C 366, 14.12.2013, p. 5.

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