CELEX: 32011M6368
Language: en
Date: 2011-11-03 00:00:00
Title: Commission Decision of 03/11/2011 declaring a concentration to be compatible with the common market (Case No COMP/M.6368 - TPG / FOURNAIS HOLDING / LARS SEIER CHRISTENSEN HOLDING / SAXO BANK) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

Important legal notice

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32011M6368

Commission Decision of 03/11/2011 declaring a concentration to be compatible with the common market (Case No COMP/M.6368 - TPG / FOURNAIS HOLDING / LARS SEIER CHRISTENSEN HOLDING / SAXO BANK) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)  

          |EUROPEAN COMMISSION     |
            Brussels , 03/11/2011
             C(2011)8044 PUBLIC VERSION
             SIMPLIFIED MERGER PROCEDURE
            To the notifying parties |
             Dear Madam(s) and/or Sir(s),
             Subject: Case No COMP/M.6368 - TPG/ FOURNAIS HOLDING/ LARS SEIER CHRISTENSEN HOLDING/ SAXO BANK  Commission decision pursuant to Article 6(1)(b) of Council Regulation (EC) No 139/2004  [1] 
            1.  On 27 September 2011, the European Commission received a notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) No 139/2004 by which the undertakings TPG VI Saxo AIV, L.P. ("TPG", UK) and Lars Seier Christensen Holding A/S and Fournais Holding A/S (together the “Founders”, DK) acquire within the meaning of Article 3(1)(b) of the Merger Regulation control of the undertaking Saxo Bank A/S ("Saxo Bank", DK) by way of purchase of shares
            2.  The business activities of the undertakings concerned are:
             - TPG: a member of the TPG Group, a global private investment firm that manages a family of funds that invest in a variety of companies through acquisitions and corporate restructurings.  
             - Founders: The main activity of the Founders is to own, manage and trade in securities.
             - Saxo Bank: an online Danish investment bank specializing in online trading and investment [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(b) 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 C 297, 08.10.2011, p.10.
            [3] OJ C 56, 5.3.2005, p. 32.