Prior notification of a concentration (Case M.8429 — BNP Paribas/Caisse des Dépôts et Consignations/Societe Générale/Euronext/Euroclear/S2IEM/CACEIS/JV) — Candidate for simplified procedure (Text with EEA relevance. )
Date: 2017-06-07
Institutions: European Commission
Subjects: banking, economic concentration, financial institution, financial market, financial services, insurance, investment company, merger control








C_2017179EN.01000601.xml










7.6.2017   


EN


Official Journal of the European Union


C 179/6





Prior notification of a concentration
(Case M.8429 — BNP Paribas/Caisse des Dépôts et Consignations/Societe Générale/Euronext/Euroclear/S2IEM/CACEIS/JV)
Candidate for simplified procedure
(Text with EEA relevance)
(2017/C 179/07)






1.


On 30 May 2017, the Commission received a notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) No 139/2004 (1) by which BNP Paribas Securities Services (‘BP2S’, France), CACEIS Investor Services (‘CACEIS’, France), Caisse des Dépôts et Consignations (‘CDC’, France), Euroclear SA/NV (‘ESA’, United Kingdom), Euronext NV (‘Euronext’, Netherlands), S2IEM — Société d’Investissements en Infrastructures Européennes de Marchés (‘S2IEM’, France), and Société Générale SA (‘Société Générale’, France) acquire, within the meaning of Article 3(4) of the Merger Regulation, joint control over a newly created joint venture in France (the ‘JV’).










2.


The business activities of the undertakings concerned are:
—   BP2S: a subsidiary of BNP Paribas SA (the parent company of the BNP Paribas Group) based in France providing custody and administration services for the assets of BNP Paribas Group's clients,
—   CACEIS Investor Services: a French based subsidiary of the Crédit Agricole Group providing execution, clearing, custody and fund administration solutions for institutional investors, banks, brokers and companies,
—   Caisse des Dépôts et Consignations: a French regulated institutional investor, active in public service and general interest activities and open market competitive business activities in e.g. real estate and environment,
—   Euroclear SA/NV (‘ESA’): a subsidiary of Euroclear plc controlling Euroclear operating entities including Central Security Depositories (‘CSDs’) and Euroclear Bank, an international central security provider (‘ICSD’) providing safekeeping, settlement and related services for domestic and international securities, including bonds, equities and investment funds,
—   Euronext N.V.: the parent company of the Euronext Group, a Dutch public company with subsidiaries in Belgium, France, the Netherlands, Portugal and the United Kingdom active in listing, cash trading, derivatives trading, market data and indices, post-trade and market solutions in its home markets,
—   S2IEM: an alternative investment fund registered under French law and a Sicav vehicle managed by OFI Asset Management,
—   Société Générale: the parent company of the Société Générale Group, which is a financial institution active in French and international retail banking, international financial services and insurance, and corporate and investment banking.










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 the 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.










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.8429 — BNP Paribas/Caisse des Dépôts et Consignations/Societe Générale/Euronext/Euroclear/S2IEM/CACEIS/JV, to the following address:





European Commission




Directorate-General for Competition




Merger Registry




1049 Bruxelles/Brussel




BELGIQUE/BELGIË










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

(2)  OJ C 366, 14.12.2013, p. 5.