CELEX: 32019M9484
Language: en
Date: 2019-11-05 00:00:00
Title: Commission Decision of 05/11/2019 declaring a concentration to be compatible with the common market (Case No COMP/M.9484 - SEMLER / VWFS / JV) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                Brussels, 05.11.2019
                                                                C(2019) 8044 final
                                                                                 PUBLIC VERSION
                                                                To the notifying parties
Subject:        Case M.9484 - SEMLER / VWFS / JV
                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 9 October 2019, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which the
        undertakings Semler Gruppen A/S (“Semler”, Denmark) and Volkswagen Financial
        Services AG (“VWFS”, Germany) through its wholly owned subsidiary Volkswagen
        Finance Overseas BV (Netherlands), acquire within the meaning of Article 3(1)(b)
        and 3(4) of the Merger Regulation joint control of a newly created company
        constituting a joint venture, namely Volkswagen Semler Finans Danmark A/S (the
        “JV”). The concentration is accomplished by way of purchase of shares.3
2.      The business activities of the undertakings concerned are:
             for Semler: the import and retail sale of vehicles in Denmark,
             for VWFS: financial services mainly relating to the distribution of passenger cars
              and light commercial vehicles of the Volkswagen group,
             for the JV: the provision of financing and leasing of vehicles to customers, dealer
              financing and related services in Denmark.
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 352, 18.10.2019, p. 20.
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)
                                                  Cecilio MADERO VILLAREJO
                                                  Acting Director-General
4  OJ C 366, 14.12.2013, p. 5.
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