CELEX: 32016M8135
Language: en
Date: 2016-09-01 00:00:00
Title: Commission Decision of 01/09/2016 declaring a concentration to be compatible with the common market (Case No COMP/M.8135 - CERBERUS / GE MONEY BANK / SOREFI / SOMAFI-SOGUAFI / GE FINANCEMENT PACIFIQUE) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

|[pic]                             |EUROPEAN COMMISSION                                                                                      |

                                        Brussels, 01.09.2016
                                        C(2016) 5699 final

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To the notifying party:

Dear Sirs,

Subject:    Case M.8135 - CERBERUS / GE MONEY BANK / SOREFI / SOMAFI-SOGUAFI / GE FINANCEMENT PACIFIQUE
         Commission decision pursuant to Article 6(1)(b) of Council Regulation (EC) No 139/2004[1] and Article 57 of the Agreement on the
         European Economic Area[2]

 1. On 9 August 2016, the European Commission received notification of a proposed concentration pursuant to Article 4 of the  Merger  Regulation
    by which the undertaking Cerberus Group ("Cerberus") acquires, within the meaning of Article 3(1)(b) of the Merger Regulation, sole  control
    over GE Money  Bank  ("GEMB"),  SOREFI  SCA  ("SOREFI"),  SOMAFI-SOGUAFI  ("SOMAFI-SOGUAFI")  and  GE  Financement  Pacifique  SAS  ("GEFP")
    (collectively referred to as the "Target Companies") from General Electric Capital SAS ("GE Capital") by way of purchase of shares.[3]

 2. The business activities of the undertakings concerned are:

        – Cerberus is a private investment firm based in New York active globally with offices across the United States of America,  Europe  and
          Asia. It is recognised by the U.S Securities and Exchange Commission and manages funds and accounts on behalf of  investors.  Cerberus
          invests in all sorts of securities and assets, private equity, middle market lending and real estate.

        – The Target Companies provide banking services, leasing and insurance services to consumers and  small  and  medium-sized  enterprises.
          They operate in Mainland France and the French overseas territories.

 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(c) of the Commission Notice on a simplified procedure for treatment  of  certain  concentrations  under
    Council Regulation (EC) No 139/2004.[4]

 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 and Article 57 of the EEA Agreement.

                                        For the Commission

                                        (signed)
                                        Johannes LAITENBERGER
                                        Director-General
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[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]   OJ L 1, 3.1.1994, p. 3 (the 'EEA Agreement').
[3]   Publication in the Official Journal of the European Union No C 297, 17.08.2016, p. 11.
[4]   OJ C 366, 14.12.2013, p. 5.

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                                                                  PUBLIC VERSION

                                                           SIMPLIFIED MERGER PROCEDURE