CELEX: 32020M9615
Language: en
Date: 2020-01-16 00:00:00
Title: Commission Decision of 16/01/2020 declaring a concentration to be compatible with the common market (Case No COMP/M.9615 - GLORY / GRENKE BANK / CASH PAYMENT SOLUTIONS) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                Brussels, 16.1.2020
                                                                C(2020) 309 final
                                                                                 PUBLIC VERSION
                                                                To the notifying parties
Subject:        Case M.9615 - GLORY / GRENKE BANK / CASH PAYMENT
                SOLUTIONS
                Commission decision pursuant to Article 6(1)(b) of Council Regulation
                                       1
                (EC) No 139/2004 and Article 57 of the Agreement on the European
                                    2
                Economic Area
Dear Sir or Madam,
1.      On 11 December 2019, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which undertakings
        Glory LTD (“Glory”, Japan) and Grenke Bank AG (“Grenke”, Germany) acquire
        within the meaning of Article 3(1)(b) and 3(4) of the Merger Regulation joint control
        of Cash Payment Solutions GmbH (“CPS”, Germany). The concentration is
        accomplished by way of purchase of shares.3
2.      The business activities of the undertakings concerned are:
             Glory develops and manufactures various products such as cash management
              systems, vending machines and coin operated lockers,
             Grenke is a licenced German bank that mainly focusses on providing online
              banking and other financial services to SMEs,
             CPS operates an online payment service that enables consumers to shop online
              and pay for these purchases in cash at retail partners such as supermarkets.
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
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 427, 19.12.2019, p. 2.
Commission européenne, DG COMP MERGER REGISTRY, 1049 Bruxelles, BELGIQUE
Europese Commissie, DG COMP MERGER REGISTRY, 1049 Brussel, BELGIË
Tel: +32 229-91111. Fax: +32 229-64301. E-mail: COMP-MERGER-REGISTRY@ec.europa.eu.
 ---pagebreak---    paragraph 5(a) 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)
                                                  Olivier GUERSENT
                                                  Director-General
4  OJ C 366, 14.12.2013, p. 5.
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