Prior notification of a concentration (Case COMP/M.2954 — Bayerische Landesbank/J. P. Morgan Chase/Lehmann Brothers/Formula One Group) — Candidate case for simplified procedure (Text with EEA relevance)
Date: 2002-09-11
Institutions: European Commission
Subjects: European Commission, banking, commercial law, economic concentration, exchange of information, financial institution, holding company, merger control

11.9.2002

EN

Official Journal of the European Communities

C 215/5

Prior notification of a concentration

(Case COMP/M.2954 — Bayerische Landesbank/J. P. Morgan Chase/Lehmann Brothers/Formula One
Group)

Candidate case for simplified procedure

(2002/C 215/03)

(Text with EEA relevance)

1.
On 2 September 2002 the Commission received notification of a proposed concentration pursuant
to Article 4 of Council Regulation (EEC) No 4064/89 (1), as last amended by Regulation (EC) No
1310/97 (2), by which the undertakings Bayerische Landesbank (BLB, Germany),
J. P. Morgan Chase
Bank (JPM, USA), Lehmann Commercial Paper Inc.
(Lehmann Brothers, USA), acquire, within the
meaning of Article 3(1)(b) of the Regulation, control of the whole of the undertaking SLEC Holdings
Limited (Jersey) which in turn controls a number of Formula One companies (hereinafter Formula One
Group), namely Formula One Asset Management Limited (Jersey), Formula One World Championship
Limited (England and Wales), Formula One Administration Limited (England and Wales) Petara Limited
(Jersey), Formula One Management Limited (England and Wales), Formula One Licensing BV (The
Netherlands), Formula One Productions Limited (England and Wales), Formula One World Travel
Limited (England and Wales), by way of exercise of security rights in the undertakings Formel Eins
Beteiligungs GmbH (FEB, Germany) and Speed Investments Limited (Jersey).

2.

The business activities of the undertakings concerned are:

— BLB: Banking activities,

— JPM: Financial services,

— Lehmann Brothers: Financial services,

— SLEC: Holding company owning the commercial rights in the Formula One Series.

On preliminary examination, the Commission finds that the notified concentration could fall within
3.
the scope of Regulation (EEC) No 4064/89. However, the final decision on this point is reserved. Pursuant
to the Commission Notice on a simplified procedure for treatment of certain concentrations under
Regulation (EEC) No 4064/89 (3), it should be noted that this case is a candidate for treatment under
the procedure set out in the notice.

The Commission invites interested third parties to submit

4.
proposed operation.

their possible observations on the

Observations must reach the Commission not later than 10 days following the date of this publication.
Observations can be sent by fax (No (32-2) 296 43 01 or 296 72 44) or by post, under reference
COMP/M.2954 — Bayerische Landesbank/J. P. Morgan Chase/Lehmann Brothers/Formula One Group, to:

European Commission,
Directorate-General for Competition,
Directorate B — Merger Task Force,
J-70,
B-1049 Brussels.

(1) OJ L 395, 30.12.1989, p. 1; corrigendum: OJ L 257, 21.9.1990, p. 13.
(2) OJ L 180, 9.7.1997, p. 1; corrigendum: OJ L 40, 13.2.1998, p. 17.
(3) OJ C 217, 29.7.2000, p. 32.