# Official Journal C 189/3 Au

| | ISSN 1725-2423 |
| --- | --- |
| Official Journal
  of the European Union | C 189 |
| | |
| English edition | Information and Notices | Volume 483 August 2005 |

ISSN 1725-2423

Official Journal

of the European Union

C 189

English edition

Information and Notices

Volume 483 August 2005

---

| Notice No | Contents | page |
| --- | --- | --- |
| | I   Information |
| | Council |
| 2005/C 189/1 | Council opinion of 12 April 2005 on the updated stability programme of Greece, 2004-2007 | 1 |
| | Commission |
| 2005/C 189/2 | Interest rate applied by the European Central Bank to its main refinancing operations: 2,05 % on 1 August 2005 — Euro exchange rates | 4 |
| 2005/C 189/3 | Prior notification of a concentration (Case COMP/M.3908 — ABN AMRO/IMCD) — Candidate case for simplified procedure (
  1
  ) | 5 |
| 2005/C 189/4 | Prior notification of a concentration (Case COMP/M.3912 — Bidvest/Deli XL) — Candidate case for simplified procedure (
  1
  ) | 6 |
| 2005/C 189/5 | Administrative Commission of the European Communities on social security for migrant workers — Rates for conversion of currencies pursuant to Council Regulation (EEC) No 574/72 | 7 |
| 2005/C 189/6 | Non-opposition to a notified concentration (Case COMP/M.3721 — Stora Enso/Scaldia/PDF) (
  1
  ) | 9 |
| 2005/C 189/7 | Non-opposition to a notified concentration (Case COMP/M.3805 — Crompton/Great Lakes) (
  1
  ) | 9 |
| 2005/C 189/8 | Non-opposition to a notified concentration (Case COMP/M.3778 — Böhler-Uddeholm/Buderus) (
  1
  ) | 10 |

Notice No

Contents

page

I   Information

Council

2005/C 189/1

Council opinion of 12 April 2005 on the updated stability programme of Greece, 2004-2007

1

Commission

2005/C 189/2

Interest rate applied by the European Central Bank to its main refinancing operations: 2,05 % on 1 August 2005 — Euro exchange rates

4

2005/C 189/3

Prior notification of a concentration (Case COMP/M.3908 — ABN AMRO/IMCD) — Candidate case for simplified procedure (
  1
  )

1

5

2005/C 189/4

Prior notification of a concentration (Case COMP/M.3912 — Bidvest/Deli XL) — Candidate case for simplified procedure (
  1
  )

1

6

2005/C 189/5

Administrative Commission of the European Communities on social security for migrant workers — Rates for conversion of currencies pursuant to Council Regulation (EEC) No 574/72

7

2005/C 189/6

Non-opposition to a notified concentration (Case COMP/M.3721 — Stora Enso/Scaldia/PDF) (
  1
  )

1

9

2005/C 189/7

Non-opposition to a notified concentration (Case COMP/M.3805 — Crompton/Great Lakes) (
  1
  )

1

9

2005/C 189/8

Non-opposition to a notified concentration (Case COMP/M.3778 — Böhler-Uddeholm/Buderus) (
  1
  )

1

10

| | Corrigenda |
| --- | --- |
| 2005/C 189/9 | Corrigendum to the euro exchange rates — 15 July 2005(OJ C 176, 16.7.2005) | 11 |

Corrigenda

2005/C 189/9

Corrigendum to the euro exchange rates — 15 July 2005(OJ C 176, 16.7.2005)

(OJ C 176, 16.7.2005)

11

| | |
| --- | --- |
| | (1)   Text with EEA relevance |

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(1)   Text with EEA relevance

1

| EN | |
| --- | --- |

EN

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I Information

Council

| 3.8.2005 | EN | Official Journal of the European Union | C 189/1 |
| --- | --- | --- | --- |

3.8.2005

EN

Official Journal of the European Union

C 189/1

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COUNCIL OPINION

of 12 April 2005

on the updated stability programme of Greece, 2004-2007

(2005/C 189/01)

THE COUNCIL OF THE EUROPEAN UNION,

Having regard to the Treaty establishing the European Community,

Having regard to Council Regulation (EC) No 1466/97 of 7 July 1997 on the strengthening of the surveillance of budgetary positions and the surveillance and coordination of economic policies (1), and in particular Article 5(3) thereof,

Having regard to the recommendation of the Commission,

After consulting the Economic and Financial Committee,

HAS DELIVERED THIS OPINION:

| (1) | On 12 April 2005 the Council examined the updated stability programme of Greece, which covers the period 2004 to 2007. The programme broadly complies with the data requirements of the ‘code of conduct on the content and format of stability and convergence programmes’. Price developments are presented in terms of the deflator of private consumption expenditure and not in terms of Harmonised Index of Consumer Prices. As regards the basic external assumptions the programme does not provide data on world GDP growth excluding EU nor the growth rate of relevant foreign markets as required by the code of conduct. The programme does not provide detail of the measures behind the targets for 2007. Accordingly Greece is invited to achieve full compliance with the data requirements. |
| --- | --- |

(1)

On 12 April 2005 the Council examined the updated stability programme of Greece, which covers the period 2004 to 2007. The programme broadly complies with the data requirements of the ‘code of conduct on the content and format of stability and convergence programmes’. Price developments are presented in terms of the deflator of private consumption expenditure and not in terms of Harmonised Index of Consumer Prices. As regards the basic external assumptions the programme does not provide data on world GDP growth excluding EU nor the growth rate of relevant foreign markets as required by the code of conduct. The programme does not provide detail of the measures behind the targets for 2007. Accordingly Greece is invited to achieve full compliance with the data requirements.

| (2) | The programme considers three different macroeconomic scenarios. On the basis of the latest available information, incorporated in the Commission services spring forecast, the third scenario, and not the baseline one, is taken as the reference for assessing the programme because it seems to reflect plausible macroeconomic assumptions close to the Commission forecasts. In this reference scenario used for the assessment of the programme, real GDP is projected to grow at 2,9 % in 2005 and marginally accelerate to 3 % in 2006 and 2007. Potential output growth is expected to gradually ease over the programme period from around 3,3 % in 2005 to 3 % in 2007, while the sizeable positive output gap recorded in 2004 is set to narrow up until 2007. |
| --- | --- |

(2)

The programme considers three different macroeconomic scenarios. On the basis of the latest available information, incorporated in the Commission services spring forecast, the third scenario, and not the baseline one, is taken as the reference for assessing the programme because it seems to reflect plausible macroeconomic assumptions close to the Commission forecasts. In this reference scenario used for the assessment of the programme, real GDP is projected to grow at 2,9 % in 2005 and marginally accelerate to 3 % in 2006 and 2007. Potential output growth is expected to gradually ease over the programme period from around 3,3 % in 2005 to 3 % in 2007, while the sizeable positive output gap recorded in 2004 is set to narrow up until 2007.

| (3) | On 5 July 2004, the Council decided that Greece was in excessive deficit and recommended its correction by 2005 at the latest. On 18 January 2005, the Council decided that Greece had not taken effective action in response to these recommendations. On 17 February 2005, the Council decided in accordance to Article 104(9) to give notice to Greece to take measures for the deficit reduction below the 3 % of GDP threshold by 2006 at the latest. The Greek authorities were also required to identify and control factors other than net borrowing, which contribute to the change in debt levels, and to improve the collection and processing of general government data. |
| --- | --- |

(3)

On 5 July 2004, the Council decided that Greece was in excessive deficit and recommended its correction by 2005 at the latest. On 18 January 2005, the Council decided that Greece had not taken effective action in response to these recommendations. On 17 February 2005, the Council decided in accordance to Article 104(9) to give notice to Greece to take measures for the deficit reduction below the 3 % of GDP threshold by 2006 at the latest. The Greek authorities were also required to identify and control factors other than net borrowing, which contribute to the change in debt levels, and to improve the collection and processing of general government data.

| (4) | According to the March 2005 EDP notification, the general government balance of 2004 is estimated to have recorded a deficit of 6,1 % of GDP. This deficit is 0,8 percentage points higher than the figure of 5,3 % of GDP estimated by the Greek government in autumn 2004 at the time of the September 2004 EDP notification, reflecting tax shortfalls and expenditure overruns worth half a point of GDP. On 18 March 2005 Eurostat decided not to validate the deficit figures for Greece, noting that due to some outstanding issues the government deficit figures for 2004 and earlier years may have to be revised upwards. |
| --- | --- |

(4)

According to the March 2005 EDP notification, the general government balance of 2004 is estimated to have recorded a deficit of 6,1 % of GDP. This deficit is 0,8 percentage points higher than the figure of 5,3 % of GDP estimated by the Greek government in autumn 2004 at the time of the September 2004 EDP notification, reflecting tax shortfalls and expenditure overruns worth half a point of GDP. On 18 March 2005 Eurostat decided not to validate the deficit figures for Greece, noting that due to some outstanding issues the government deficit figures for 2004 and earlier years may have to be revised upwards.

| (5) | The budgetary strategy of the Greek government aims at reducing the deficit below the 3 % of GDP reference value by 2006, in line with the Council decision under Article 104(9), through a mix of expenditure retrenchment and also revenue-enhancing measures, which should result in increasing primary surpluses. To that end, the Greek government has adopted a package of fiscal measures for 2005, in addition to those included in the 2005 budget, which are of permanent nature. The reference scenario targets a sizeable reduction of the nominal general government budget deficit by 3.6 percentage point over the programme period, from the outturn of 6,1 % of GDP in 2004 to 2,4 % in 2007. The primary balance is projected to improve substantially from a deficit of 0,4 % in 2004 to a surplus of 1,8 % of GDP in 2005 increasing to 3,3 % of GDP at the end of the period. |
| --- | --- |

(5)

The budgetary strategy of the Greek government aims at reducing the deficit below the 3 % of GDP reference value by 2006, in line with the Council decision under Article 104(9), through a mix of expenditure retrenchment and also revenue-enhancing measures, which should result in increasing primary surpluses. To that end, the Greek government has adopted a package of fiscal measures for 2005, in addition to those included in the 2005 budget, which are of permanent nature. The reference scenario targets a sizeable reduction of the nominal general government budget deficit by 3.6 percentage point over the programme period, from the outturn of 6,1 % of GDP in 2004 to 2,4 % in 2007. The primary balance is projected to improve substantially from a deficit of 0,4 % in 2004 to a surplus of 1,8 % of GDP in 2005 increasing to 3,3 % of GDP at the end of the period.

| (6) | There is a risk that the budgetary outcome for 2005 and beyond may be worse than in the programme. In particular, trends in social security contributions and public consumption expenditure may have been projected favourably, while the envisaged adjustment measures, especially in the outer years of the programme, are not sufficiently indicated. Moreover, the new statistical revisions for 2004 and earlier years may imply potential carryover effects requiring additional measures for the future. The Greek authorities have announced that they stand ready to implement additional saving measures on the expenditure side in the 2006 budget, on top of the measures already adopted in 2005, in order to effectively bring the deficit below the 3 % reference value in 2006 as required by the Council. The budgetary stance in the programme does not provide a sufficient safety margin against breaching this threshold with normal cyclical fluctuations nor does it achieve the Stability and Growth Pact's medium term objective of a budgetary position of close-to-balance or in surplus throughout the programme period. |
| --- | --- |

(6)

There is a risk that the budgetary outcome for 2005 and beyond may be worse than in the programme. In particular, trends in social security contributions and public consumption expenditure may have been projected favourably, while the envisaged adjustment measures, especially in the outer years of the programme, are not sufficiently indicated. Moreover, the new statistical revisions for 2004 and earlier years may imply potential carryover effects requiring additional measures for the future. The Greek authorities have announced that they stand ready to implement additional saving measures on the expenditure side in the 2006 budget, on top of the measures already adopted in 2005, in order to effectively bring the deficit below the 3 % reference value in 2006 as required by the Council. The budgetary stance in the programme does not provide a sufficient safety margin against breaching this threshold with normal cyclical fluctuations nor does it achieve the Stability and Growth Pact's medium term objective of a budgetary position of close-to-balance or in surplus throughout the programme period.

| (7) | The debt ratio is projected to decline from 110,5 % of GDP in 2004 to only 109,5 % in 2005 and then to 107,2 % in 2006 and 104,7 % in 2007. A faster pace of debt reduction is hampered by significant debt-increasing stock-flow adjustments, which, while declining compared to 2004, are expected to remain significant in spite of planned privatisation proceeds. The evolution of the debt ratio may be less favourable than projected given the risks to the budgetary targets mentioned above. |
| --- | --- |

(7)

The debt ratio is projected to decline from 110,5 % of GDP in 2004 to only 109,5 % in 2005 and then to 107,2 % in 2006 and 104,7 % in 2007. A faster pace of debt reduction is hampered by significant debt-increasing stock-flow adjustments, which, while declining compared to 2004, are expected to remain significant in spite of planned privatisation proceeds. The evolution of the debt ratio may be less favourable than projected given the risks to the budgetary targets mentioned above.

| (8) | Greece appears to be at serious risk with regard to the long-term sustainability of public finances, also on account of the very important projected budgetary costs of an ageing population. The considerable increase projected in age-related spending suggests that additional measures to control public pension expenditures, including the resolute implementation of reform measures enacted, are necessary. |
| --- | --- |

(8)

Greece appears to be at serious risk with regard to the long-term sustainability of public finances, also on account of the very important projected budgetary costs of an ageing population. The considerable increase projected in age-related spending suggests that additional measures to control public pension expenditures, including the resolute implementation of reform measures enacted, are necessary.

| (9) | The economic policies outlined in the update are partly consistent with the country-specific Broad Economic Policy Guidelines in the area of public finances. In particular, the programme does not outline sufficiently effective action towards the close-to-balance-or-in-surplus position. The cyclically-adjusted deficit calculated by the Commission services according to the commonly agreed methodology applied to the data of the reference scenario, although projected in the programme to improve by 0,5 per cent of GDP per year, would remain above 3 % of GDP throughout the programme period. However, the steps taken towards correcting fiscal imbalances and the government commitment made public on 29 March are in line with the Council recommendations in its notice given to Greece on 17 February in accordance with Article 104(9). Therefore, no further steps in the excessive deficit procedure are needed at present. A new assessment of compliance with such recommendations will be carried out on the basis of the report to be presented by the Greek authorities in October, as foreseen in the Council notice. |
| --- | --- |

(9)

The economic policies outlined in the update are partly consistent with the country-specific Broad Economic Policy Guidelines in the area of public finances. In particular, the programme does not outline sufficiently effective action towards the close-to-balance-or-in-surplus position. The cyclically-adjusted deficit calculated by the Commission services according to the commonly agreed methodology applied to the data of the reference scenario, although projected in the programme to improve by 0,5 per cent of GDP per year, would remain above 3 % of GDP throughout the programme period. However, the steps taken towards correcting fiscal imbalances and the government commitment made public on 29 March are in line with the Council recommendations in its notice given to Greece on 17 February in accordance with Article 104(9). Therefore, no further steps in the excessive deficit procedure are needed at present. A new assessment of compliance with such recommendations will be carried out on the basis of the report to be presented by the Greek authorities in October, as foreseen in the Council notice.

In view of the above assessment, the Council is of the opinion that Greece should:

| — | implement the necessary permanent measures in order to correct the excessive deficit by 2006 at the latest; |
| --- | --- |

—

implement the necessary permanent measures in order to correct the excessive deficit by 2006 at the latest;

| — | reduce the cyclically-adjusted deficit by at least 0,5 % of GDP from 2007 onward, mainly through primary spending control measures, leading to a close-to-balance-or-in-surplus position in the medium term; |
| --- | --- |

—

reduce the cyclically-adjusted deficit by at least 0,5 % of GDP from 2007 onward, mainly through primary spending control measures, leading to a close-to-balance-or-in-surplus position in the medium term;

| — | enhance the efforts to identify and control factors other than net borrowing, which contribute to the change in debt levels, in order to ensure a reduction in the government gross debt ratio so as to approach the reference value at a faster pace; |
| --- | --- |

—

enhance the efforts to identify and control factors other than net borrowing, which contribute to the change in debt levels, in order to ensure a reduction in the government gross debt ratio so as to approach the reference value at a faster pace;

| — | control public pension expenditures and resolutely implement the enacted reforms to ensure the sustainability of public finances; |
| --- | --- |

—

control public pension expenditures and resolutely implement the enacted reforms to ensure the sustainability of public finances;

| — | further actively improve the collection and processing of general government data in collaboration with Eurostat, notably by enhancing the mechanisms that ensure a prompt and correct supply of this data. |
| --- | --- |

—

further actively improve the collection and processing of general government data in collaboration with Eurostat, notably by enhancing the mechanisms that ensure a prompt and correct supply of this data.

Comparison of key macroeconomic and budgetary projections

| | 2004 | 2005 | 2006 | 2007 |
| --- | --- | --- | --- | --- |
| Real GDP
  (% change) | SP Mar 2005 | 4,2 | 2,9 | 3,0 | 3,0 |
| COM Mar 2005 | 4,2 | 2,9 | 3,1 | |
| SP Dec 2003 | 4,2 | 4,0 | 3,8 | n.a. |
| HICP inflation
  (%) | SP Mar 2005 | 3,0 | n.a | n.a | n.a |
| COM Mar 2005 | 3,0 | 3,2 | 3,2 | |
| SP Dec 2003 | 3,0 | 2,8 | 2,6 | n.a. |
| General government balance
  (% of GDP) (3) | SP Mar 2005 | – 6,1 | – 3,7 | – 2,9 | – 2,4 |
| COM Mar 2005 | – 6,1 | – 4,5 | – 4,4 | |
| SP Dec 2003 | – 1,2 | – 0,5 | 0,0 | n.a. |
| Primary balance
  (% of GDP) (3) | SP Mar 2005 | – 0,4 | 1,8 | 2,7 | 3,3 |
| COM Mar 2005 | – 0,4 | 1,0 | 1,0 | |
| SP Dec 2003 | 4,7 | 5,1 | 5,3 | n.a. |
| Cyclically-adjusted balance
  (% of GDP) (3) | SP Mar 2005 (2) | – 7,0 | – 4,4 | – 3,5 | – 3,0 |
| COM Mar 2005 | – 7,1 | – 5,5 | – 5,3 | |
| SP Dec 2003 | – 1,2 | – 0,5 | 0,0 | n.a. |
| Government gross debt
  (% of GDP) | SP Mar 2005 | 110,5 | 109,5 | 107,2 | 104,7 |
| COM Mar 2005 | 110,5 | 110,5 | 108,9 | |
| SP Dec 2003 | 98,5 | 94,6 | 90,5 | n.a. |

2004

2005

2006

2007

Real GDP

(% change)

SP Mar 2005

4,2

2,9

3,0

3,0

COM Mar 2005

4,2

2,9

3,1

SP Dec 2003

4,2

4,0

3,8

n.a.

HICP inflation

(%)

SP Mar 2005

3,0

n.a

n.a

n.a

COM Mar 2005

3,0

3,2

3,2

SP Dec 2003

3,0

2,8

2,6

n.a.

General government balance

(% of GDP) (3)

SP Mar 2005

– 6,1

– 3,7

– 2,9

– 2,4

COM Mar 2005

– 6,1

– 4,5

– 4,4

SP Dec 2003

– 1,2

– 0,5

0,0

n.a.

Primary balance

(% of GDP) (3)

SP Mar 2005

– 0,4

1,8

2,7

3,3

COM Mar 2005

– 0,4

1,0

1,0

SP Dec 2003

4,7

5,1

5,3

n.a.

Cyclically-adjusted balance

(% of GDP) (3)

SP Mar 2005 (2)

– 7,0

– 4,4

– 3,5

– 3,0

COM Mar 2005

– 7,1

– 5,5

– 5,3

SP Dec 2003

– 1,2

– 0,5

0,0

n.a.

Government gross debt

(% of GDP)

SP Mar 2005

110,5

109,5

107,2

104,7

COM Mar 2005

110,5

110,5

108,9

SP Dec 2003

98,5

94,6

90,5

n.a.

---

(1)  OJ L 209, 2.8.1997, p. 1.

(2)  Commission services calculations on the basis of the information in the programme

(3)  The Commission projections do not take into account the measures announced on 29 March

Sources:

Stability programme March 2005 revised update (SP); Commission services spring 2005 economic forecasts (COM); Commission services calculations

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Commission

| 3.8.2005 | EN | Official Journal of the European Union | C 189/4 |
| --- | --- | --- | --- |

3.8.2005

EN

Official Journal of the European Union

C 189/4

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Interest rate applied by the European Central Bank to its main refinancing operations (1):

2,05 % on 1 August 2005

Euro exchange rates (2)

2 August 2005

(2005/C 189/02)

1 euro=

| | Currency | Exchange rate |
| --- | --- | --- |
| USD | US dollar | 1,2217 |
| JPY | Japanese yen | 136,07 |
| DKK | Danish krone | 7,4600 |
| GBP | Pound sterling | 0,68930 |
| SEK | Swedish krona | 9,3721 |
| CHF | Swiss franc | 1,5566 |
| ISK | Iceland króna | 78,36 |
| NOK | Norwegian krone | 7,8465 |
| BGN | Bulgarian lev | 1,9554 |
| CYP | Cyprus pound | 0,5737 |
| CZK | Czech koruna | 30,005 |
| EEK | Estonian kroon | 15,6466 |
| HUF | Hungarian forint | 244,91 |
| LTL | Lithuanian litas | 3,4528 |
| LVL | Latvian lats | 0,6961 |
| MTL | Maltese lira | 0,4293 |
| PLN | Polish zloty | 4,0550 |
| RON | Romanian leu | 3,4779 |
| SIT | Slovenian tolar | 239,51 |
| SKK | Slovak koruna | 38,902 |
| TRY | Turkish lira | 1,6171 |
| AUD | Australian dollar | 1,5979 |
| CAD | Canadian dollar | 1,4803 |
| HKD | Hong Kong dollar | 9,4960 |
| NZD | New Zealand dollar | 1,7759 |
| SGD | Singapore dollar | 2,0194 |
| KRW | South Korean won | 1 246,68 |
| ZAR | South African rand | 7,9529 |
| CNY | Chinese yuan renminbi | 9,8997 |
| HRK | Croatian kuna | 7,3048 |
| IDR | Indonesian rupiah | 11 911,58 |
| MYR | Malaysian ringgit | 4,577 |
| PHP | Philippine peso | 68,409 |
| RUB | Russian rouble | 34,9210 |
| THB | Thai baht | 50,536 |

Currency

Exchange rate

USD

US dollar

1,2217

JPY

Japanese yen

136,07

DKK

Danish krone

7,4600

GBP

Pound sterling

0,68930

SEK

Swedish krona

9,3721

CHF

Swiss franc

1,5566

ISK

Iceland króna

78,36

NOK

Norwegian krone

7,8465

BGN

Bulgarian lev

1,9554

CYP

Cyprus pound

0,5737

CZK

Czech koruna

30,005

EEK

Estonian kroon

15,6466

HUF

Hungarian forint

244,91

LTL

Lithuanian litas

3,4528

LVL

Latvian lats

0,6961

MTL

Maltese lira

0,4293

PLN

Polish zloty

4,0550

RON

Romanian leu

3,4779

SIT

Slovenian tolar

239,51

SKK

Slovak koruna

38,902

TRY

Turkish lira

1,6171

AUD

Australian dollar

1,5979

CAD

Canadian dollar

1,4803

HKD

Hong Kong dollar

9,4960

NZD

New Zealand dollar

1,7759

SGD

Singapore dollar

2,0194

KRW

South Korean won

1 246,68

ZAR

South African rand

7,9529

CNY

Chinese yuan renminbi

9,8997

HRK

Croatian kuna

7,3048

IDR

Indonesian rupiah

11 911,58

MYR

Malaysian ringgit

4,577

PHP

Philippine peso

68,409

RUB

Russian rouble

34,9210

THB

Thai baht

50,536

---

(1)  Rate applied to the most recent operation carried out before the indicated day. In the case of a variable rate tender, the interest rate is the marginal rate.

(2)

Source: reference exchange rate published by the ECB.

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| 3.8.2005 | EN | Official Journal of the European Union | C 189/5 |
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3.8.2005

EN

Official Journal of the European Union

C 189/5

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Prior notification of a concentration

(Case COMP/M.3908 — ABN AMRO/IMCD)

Candidate case for simplified procedure

(2005/C 189/03)

(Text with EEA relevance)

| 1. | On 26 July 2005, the Commission received a notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) No 139/2004 (1) by which the undertaking ABN AMRO Capital BO Funds B.V (‘ABN AMRO’, The Netherlands) belonging to the ABN AMRO group acquires within the meaning of Article 3(1)(b) of the Council Regulation control of the whole of the undertaking IMCD Group B.V. (‘IMCD’, The Netherlands) by way of purchase of shares. |
| --- | --- |

1.

On 26 July 2005, the Commission received a notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) No 139/2004 (1) by which the undertaking ABN AMRO Capital BO Funds B.V (‘ABN AMRO’, The Netherlands) belonging to the ABN AMRO group acquires within the meaning of Article 3(1)(b) of the Council Regulation control of the whole of the undertaking IMCD Group B.V. (‘IMCD’, The Netherlands) by way of purchase of shares.

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






  — | for undertaking ABN AMRO: provision of financial services; |
| --- | --- | --- |

2.

The business activities of the undertakings concerned are:

—

for undertaking ABN AMRO: provision of financial services;

| — | for undertaking IMCD: distribution of specialty chemicals. |
| --- | --- |

—

for undertaking IMCD: distribution of specialty chemicals.

| 3. | On preliminary examination, the Commission finds that the notified transaction could fall within the scope of Regulation (EC) No 139/2004. 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) No139/2004 (2) it should be noted that this case is a candidate for treatment under the procedure set out in the Notice. |
| --- | --- |

3.

On preliminary examination, the Commission finds that the notified transaction could fall within the scope of Regulation (EC) No 139/2004. 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) No139/2004 (2) it should be noted that this case is a candidate for treatment under the procedure set out in the Notice.

| 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 (fax no (32-2) 296 43 01 or 296 72 44) or by post, under reference number COMP/M.3908 — ABN AMRO/IMCD, to the following address:





  European Commission |
| --- | --- |
| Directorate-General for Competition |
| Merger Registry |
| J-70 |
| B-1049 Bruxelles/Brussel |

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 (fax no (32-2) 296 43 01 or 296 72 44) or by post, under reference number COMP/M.3908 — ABN AMRO/IMCD, to the following address:

European Commission

Directorate-General for Competition

Merger Registry

J-70

B-1049 Bruxelles/Brussel

---

(1)  OJ L 24, 29.1.2004, p. 1.

(2)  OJ C 56, 5.3.2005, p. 32.

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| 3.8.2005 | EN | Official Journal of the European Union | C 189/6 |
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3.8.2005

EN

Official Journal of the European Union

C 189/6

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Prior notification of a concentration

(Case COMP/M.3912 — Bidvest/Deli XL)

Candidate case for simplified procedure

(2005/C 189/04)

(Text with EEA relevance)

| 1. | On 26 July 2005, the Commission received a notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) No 139/2004 (1) by which the undertaking Bidvest Holding BV (‘Bidvest’, South Africa) acquires within the meaning of Article 3(1)(b) of the Council Regulation control of the whole of the undertaking Deli XL BV (‘Deli XL’, the Netherlands) by way of purchase of shares and assets. |
| --- | --- |

1.

On 26 July 2005, the Commission received a notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) No 139/2004 (1) by which the undertaking Bidvest Holding BV (‘Bidvest’, South Africa) acquires within the meaning of Article 3(1)(b) of the Council Regulation control of the whole of the undertaking Deli XL BV (‘Deli XL’, the Netherlands) by way of purchase of shares and assets.

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






  — | for Bidvest: investment holding company, inter alia active in the food services sector in the UK through BFS Group Limited (trading under the name of ‘3663 First for Food service’); |
| --- | --- | --- |

2.

The business activities of the undertakings concerned are:

—

for Bidvest: investment holding company, inter alia active in the food services sector in the UK through BFS Group Limited (trading under the name of ‘3663 First for Food service’);

| — | for Deli XL: wholesaler of food services for out-of-home consumption, active in Belgium and the Netherlands. |
| --- | --- |

—

for Deli XL: wholesaler of food services for out-of-home consumption, active in Belgium and the Netherlands.

| 3. | On preliminary examination, the Commission finds that the notified transaction could fall within the scope of Regulation (EC) No 139/2004. 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 the Notice. |
| --- | --- |

3.

On preliminary examination, the Commission finds that the notified transaction could fall within the scope of Regulation (EC) No 139/2004. 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 the Notice.

| 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 (No (32-2) 296 43 01 or 296 72 44) or by post, under reference number COMP/M.3912 — Bidvest/Deli XL to the following address:





  European Commission |
| --- | --- |
| Directorate-General for Competition |
| Merger Registry |
| J-70 |
| B-1049 Brussels |

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 (No (32-2) 296 43 01 or 296 72 44) or by post, under reference number COMP/M.3912 — Bidvest/Deli XL to the following address:

European Commission

Directorate-General for Competition

Merger Registry

J-70

B-1049 Brussels

---

(1)  OJ L 24, 29.1.2004, p. 1.

(2)  OJ C 56, 5.3.2005, p. 32.

---

| 3.8.2005 | EN | Official Journal of the European Union | C 189/7 |
| --- | --- | --- | --- |

3.8.2005

EN

Official Journal of the European Union

C 189/7

---

ADMINISTRATIVE COMMISSION OF THE EUROPEAN COMMUNITIES ON SOCIAL SECURITY FOR MIGRANT WORKERS

Rates for conversion of currencies pursuant to Council Regulation (EEC) No 574/72

(2005/C 189/05)

Article 107(1), (2), (3) and (4) of Regulation (EEC) No 574/72

Reference period: July 2005

Application period: October, November and December 2005

| | EUR | CZK | DKK | EEK | CYP | LVL | LTL | HUF | MTL | PLN | SIT | SKK | SEK | GBP | NOK | ISK | CHF |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1 EUR = | 1 | 30,1795 | 7,45842 | 15,6466 | 0,573671 | 0,696052 | 3,45280 | 246,467 | 0,429300 | 4,09863 | 239,481 | 38,8857 | 9,42756 | 0,687564 | 7,92002 | 78,3986 | 1,55783 |
| 1 CZK = | 0,033135 | 1 | 0,247135 | 0,518451 | 0,0190086 | 0,0230637 | 0,114409 | 8,16669 | 0,0142249 | 0,135808 | 7,93521 | 1,28848 | 0,312383 | 0,0227825 | 0,26243 | 2,59774 | 0,0516187 |
| 1 DKK = | 0,134077 | 4,04637 | 1 | 2,09784 | 0,0769159 | 0,0933243 | 0,46294 | 33,0454 | 0,0575591 | 0,54953 | 32,1088 | 5,21366 | 1,26402 | 0,0921863 | 1,06189 | 10,5114 | 0,208868 |
| 1 EEK = | 0,0639116 | 1,92882 | 0,476680 | 1 | 0,0366643 | 0,0444859 | 0,220674 | 15,7521 | 0,0274373 | 0,26195 | 15,3056 | 2,48525 | 0,602531 | 0,0439434 | 0,506182 | 5,01058 | 0,0995634 |
| 1 CYP = | 1,74316 | 52,6077 | 13,0012 | 27,2745 | 1 | 1,21333 | 6,01878 | 429,630 | 0,748338 | 7,14456 | 417,453 | 67,7839 | 16,4337 | 1,19853 | 13,8059 | 136,661 | 2,71554 |
| 1 LVL = | 1,43667 | 43,3581 | 10,7153 | 22,4791 | 0,824179 | 1 | 4,96055 | 354,092 | 0,616764 | 5,88839 | 344,056 | 55,8661 | 13,5443 | 0,987805 | 11,3785 | 112,633 | 2,23809 |
| 1 LTL = | 0,289620 | 8,74059 | 2,16011 | 4,53157 | 0,166147 | 0,201591 | 1 | 71,3817 | 0,124334 | 1,18704 | 69,3585 | 11,2621 | 2,73041 | 0,199132 | 2,29380 | 22,7058 | 0,451178 |
| 1 HUF = | 0,00405734 | 0,122449 | 0,0302614 | 0,0634836 | 0,00232758 | 0,00282412 | 0,0140092 | 1 | 0,00174182 | 0,0166295 | 0,971657 | 0,157773 | 0,0382509 | 0,00278968 | 0,0321343 | 0,318090 | 0,00632065 |
| 1 MTL = | 2,32937 | 70,2994 | 17,3735 | 36,4468 | 1,33629 | 1,62137 | 8,04286 | 574,113 | 1 | 9,54724 | 557,841 | 90,5793 | 21,9603 | 1,60159 | 18,4487 | 182,62 | 3,62876 |
| 1 PLN = | 0,243984 | 7,36332 | 1,81974 | 3,81752 | 0,139967 | 0,169826 | 0,842428 | 60,1339 | 0,104742 | 1 | 58,4295 | 9,48749 | 2,30017 | 0,167755 | 1,93236 | 19,1280 | 0,380085 |
| 1 SIT = | 0,0041757 | 0,126021 | 0,0311441 | 0,0653355 | 0,00239548 | 0,0029065 | 0,0144178 | 1,02917 | 0,00179263 | 0,0171146 | 1 | 0,162375 | 0,0393666 | 0,00287106 | 0,0330716 | 0,327369 | 0,00650502 |
| 1 SKK = | 0,0257164 | 0,776108 | 0,191804 | 0,402374 | 0,0147528 | 0,0179 | 0,0887935 | 6,33823 | 0,0110400 | 0,105402 | 6,15858 | 1 | 0,242443 | 0,0176817 | 0,203674 | 2,01613 | 0,0400617 |
| 1 SEK = | 0,106072 | 3,20120 | 0,791130 | 1,65967 | 0,0608505 | 0,0738316 | 0,366245 | 26,1432 | 0,0455367 | 0,43475 | 25,4022 | 4,12468 | 1 | 0,0729313 | 0,840092 | 8,31589 | 0,165242 |
| 1 GBP = | 1,45441 | 43,8934 | 10,8476 | 22,7566 | 0,834353 | 1,01235 | 5,02178 | 358,463 | 0,624378 | 5,96108 | 348,303 | 56,5558 | 13,7115 | 1 | 11,5190 | 114,024 | 2,26572 |
| 1 NOK = | 0,126262 | 3,81053 | 0,941717 | 1,97557 | 0,0724330 | 0,0878851 | 0,435958 | 31,1194 | 0,0542044 | 0,517502 | 30,2374 | 4,9098 | 1,19035 | 0,0868134 | 1 | 9,89878 | 0,196695 |
| 1 ISK = | 0,0127553 | 0,384950 | 0,0951347 | 0,199578 | 0,00731737 | 0,00887838 | 0,0440416 | 3,14376 | 0,00547587 | 0,0522794 | 3,05466 | 0,496000 | 0,120252 | 0,00877011 | 0,101023 | 1 | 0,0198706 |
| 1 CHF = | 0,641919 | 19,3728 | 4,78771 | 10,0439 | 0,368251 | 0,446809 | 2,21642 | 158,212 | 0,275576 | 2,63099 | 153,727 | 24,9615 | 6,05173 | 0,441361 | 5,08401 | 50,3255 | 1 |

EUR

CZK

DKK

EEK

CYP

LVL

LTL

HUF

MTL

PLN

SIT

SKK

SEK

GBP

NOK

ISK

CHF

1 EUR =

1

30,1795

7,45842

15,6466

0,573671

0,696052

3,45280

246,467

0,429300

4,09863

239,481

38,8857

9,42756

0,687564

7,92002

78,3986

1,55783

1 CZK =

0,033135

1

0,247135

0,518451

0,0190086

0,0230637

0,114409

8,16669

0,0142249

0,135808

7,93521

1,28848

0,312383

0,0227825

0,26243

2,59774

0,0516187

1 DKK =

0,134077

4,04637

1

2,09784

0,0769159

0,0933243

0,46294

33,0454

0,0575591

0,54953

32,1088

5,21366

1,26402

0,0921863

1,06189

10,5114

0,208868

1 EEK =

0,0639116

1,92882

0,476680

1

0,0366643

0,0444859

0,220674

15,7521

0,0274373

0,26195

15,3056

2,48525

0,602531

0,0439434

0,506182

5,01058

0,0995634

1 CYP =

1,74316

52,6077

13,0012

27,2745

1

1,21333

6,01878

429,630

0,748338

7,14456

417,453

67,7839

16,4337

1,19853

13,8059

136,661

2,71554

1 LVL =

1,43667

43,3581

10,7153

22,4791

0,824179

1

4,96055

354,092

0,616764

5,88839

344,056

55,8661

13,5443

0,987805

11,3785

112,633

2,23809

1 LTL =

0,289620

8,74059

2,16011

4,53157

0,166147

0,201591

1

71,3817

0,124334

1,18704

69,3585

11,2621

2,73041

0,199132

2,29380

22,7058

0,451178

1 HUF =

0,00405734

0,122449

0,0302614

0,0634836

0,00232758

0,00282412

0,0140092

1

0,00174182

0,0166295

0,971657

0,157773

0,0382509

0,00278968

0,0321343

0,318090

0,00632065

1 MTL =

2,32937

70,2994

17,3735

36,4468

1,33629

1,62137

8,04286

574,113

1

9,54724

557,841

90,5793

21,9603

1,60159

18,4487

182,62

3,62876

1 PLN =

0,243984

7,36332

1,81974

3,81752

0,139967

0,169826

0,842428

60,1339

0,104742

1

58,4295

9,48749

2,30017

0,167755

1,93236

19,1280

0,380085

1 SIT =

0,0041757

0,126021

0,0311441

0,0653355

0,00239548

0,0029065

0,0144178

1,02917

0,00179263

0,0171146

1

0,162375

0,0393666

0,00287106

0,0330716

0,327369

0,00650502

1 SKK =

0,0257164

0,776108

0,191804

0,402374

0,0147528

0,0179

0,0887935

6,33823

0,0110400

0,105402

6,15858

1

0,242443

0,0176817

0,203674

2,01613

0,0400617

1 SEK =

0,106072

3,20120

0,791130

1,65967

0,0608505

0,0738316

0,366245

26,1432

0,0455367

0,43475

25,4022

4,12468

1

0,0729313

0,840092

8,31589

0,165242

1 GBP =

1,45441

43,8934

10,8476

22,7566

0,834353

1,01235

5,02178

358,463

0,624378

5,96108

348,303

56,5558

13,7115

1

11,5190

114,024

2,26572

1 NOK =

0,126262

3,81053

0,941717

1,97557

0,0724330

0,0878851

0,435958

31,1194

0,0542044

0,517502

30,2374

4,9098

1,19035

0,0868134

1

9,89878

0,196695

1 ISK =

0,0127553

0,384950

0,0951347

0,199578

0,00731737

0,00887838

0,0440416

3,14376

0,00547587

0,0522794

3,05466

0,496000

0,120252

0,00877011

0,101023

1

0,0198706

1 CHF =

0,641919

19,3728

4,78771

10,0439

0,368251

0,446809

2,21642

158,212

0,275576

2,63099

153,727

24,9615

6,05173

0,441361

5,08401

50,3255

1

| 1. | Regulation (EEC) No 574/72 determines that the rate for the conversion into a currency of amounts denominated in another currency shall be the rate calculated by the Commission and based on the monthly average, during the reference period specified in paragraph 2, of reference rates of exchange of currencies published by the European Central Bank. |
| --- | --- |

1.

Regulation (EEC) No 574/72 determines that the rate for the conversion into a currency of amounts denominated in another currency shall be the rate calculated by the Commission and based on the monthly average, during the reference period specified in paragraph 2, of reference rates of exchange of currencies published by the European Central Bank.

| 2. | The reference period shall be:






  — | the month of January for rates of conversion applicable from 1 April following, |
| --- | --- | --- |

2.

The reference period shall be:

—

the month of January for rates of conversion applicable from 1 April following,

| — | the month of April for rates of conversion applicable from 1 July following, |
| --- | --- |

—

the month of April for rates of conversion applicable from 1 July following,

| — | the month of July for rates of conversion applicable from 1 October following, |
| --- | --- |

—

the month of July for rates of conversion applicable from 1 October following,

| — | the month of October for rates of conversion applicable from 1 January following. |
| --- | --- |

—

the month of October for rates of conversion applicable from 1 January following.

The rates for the conversion of currencies shall be published in the second Official Journal of the European Union (‘C’ series) of the months of February, May, August and November.

---

| 3.8.2005 | EN | Official Journal of the European Union | C 189/9 |
| --- | --- | --- | --- |

3.8.2005

EN

Official Journal of the European Union

C 189/9

---

Non-opposition to a notified concentration

(Case COMP/M.3721 — Stora Enso/Scaldia/PDF)

(2005/C 189/06)

(Text with EEA relevance)

On 7 April 2005, the Commission decided not to oppose the above notified concentration and to declare it compatible with the common market. This decision is based on Article 6(1)(b) of Council Regulation (EC) No 139/2004. The full text of the decision is available only in English and will be made public after it is cleared of any business secrets it may contain. It will be available:

| — | from the Europa competition web site (http://europa.eu.int/comm/competition/mergers/cases/). This web site provides various facilities to help locate individual merger decisions, including company, case number, date and sectoral indexes, |
| --- | --- |

—

from the Europa competition web site (http://europa.eu.int/comm/competition/mergers/cases/). This web site provides various facilities to help locate individual merger decisions, including company, case number, date and sectoral indexes,

| — | in electronic form on the EUR-Lex website under document number 32005M3721. EUR-Lex is the on-line access to European law. (http://europa.eu.int/eur-lex/lex) |
| --- | --- |

—

in electronic form on the EUR-Lex website under document number 32005M3721. EUR-Lex is the on-line access to European law. (http://europa.eu.int/eur-lex/lex)

---

| 3.8.2005 | EN | Official Journal of the European Union | C 189/9 |
| --- | --- | --- | --- |

3.8.2005

EN

Official Journal of the European Union

C 189/9

---

Non-opposition to a notified concentration

(Case COMP/M.3805 — Crompton/Great Lakes)

(2005/C 189/07)

(Text with EEA relevance)

On 15 June 2005, the Commission decided not to oppose the above notified concentration and to declare it compatible with the common market. This decision is based on Article 6(1)(b) of Council Regulation (EC) No 139/2004. The full text of the decision is available only in English and will be made public after it is cleared of any business secrets it may contain. It will be available:

| — | from the Europa competition web site (http://europa.eu.int/comm/competition/mergers/cases/). This web site provides various facilities to help locate individual merger decisions, including company, case number, date and sectoral indexes, |
| --- | --- |

—

from the Europa competition web site (http://europa.eu.int/comm/competition/mergers/cases/). This web site provides various facilities to help locate individual merger decisions, including company, case number, date and sectoral indexes,

| — | in electronic form on the EUR-Lex website under document number 32005M3805. EUR-Lex is the on-line access to European law. (http://europa.eu.int/eur-lex/lex) |
| --- | --- |

—

in electronic form on the EUR-Lex website under document number 32005M3805. EUR-Lex is the on-line access to European law. (http://europa.eu.int/eur-lex/lex)

---

| 3.8.2005 | EN | Official Journal of the European Union | C 189/10 |
| --- | --- | --- | --- |

3.8.2005

EN

Official Journal of the European Union

C 189/10

---

Non-opposition to a notified concentration

(Case COMP/M.3778 — Böhler-Uddeholm/Buderus)

(2005/C 189/08)

(Text with EEA relevance)

On 30 June 2005, the Commission decided not to oppose the above notified concentration and to declare it compatible with the common market. This decision is based on Article 6(1)(b) of Council Regulation (EC) No 139/2004. The full text of the decision is available only in English and will be made public after it is cleared of any business secrets it may contain. It will be available:

| — | from the Europa competition web site (http://europa.eu.int/comm/competition/mergers/cases/). This web site provides various facilities to help locate individual merger decisions, including company, case number, date and sectoral indexes, |
| --- | --- |

—

from the Europa competition web site (http://europa.eu.int/comm/competition/mergers/cases/). This web site provides various facilities to help locate individual merger decisions, including company, case number, date and sectoral indexes,

| — | in electronic form on the EUR-Lex website under document number 32005M3778. EUR-Lex is the on-line access to European law. (http://europa.eu.int/eur-lex/lex) |
| --- | --- |

—

in electronic form on the EUR-Lex website under document number 32005M3778. EUR-Lex is the on-line access to European law. (http://europa.eu.int/eur-lex/lex)

---

Corrigenda

| 3.8.2005 | EN | Official Journal of the European Union | C 189/11 |
| --- | --- | --- | --- |

3.8.2005

EN

Official Journal of the European Union

C 189/11

---

Corrigendum to the euro exchange rates

15 July 2005

(
  Official Journal of the European Union C 176 of 16 July 2005
  )

(2005/C 189/09)

On page 5, in the table, second column, 11th line:

for:

| 'CNY | Chinese yuan renminbi | 9,9873', |
| --- | --- | --- |

'CNY

Chinese yuan renminbi

9,9873',

read:

| 'CNY | Chinese yuan renminbi | 9,9922'. |
| --- | --- | --- |

'CNY

Chinese yuan renminbi

9,9922'.

---