CELEX: 32000M2200
Language: en
Date: 2000-12-07 00:00:00
Title: Commission Decision of 07/12/2000 declaring a concentration to be compatible with the common market (Case No IV/M.2200 - DEUTSCHE BANK / DBG / VARTA) according to Council Regulation (EEC) No 4064/89 (Only the English text is authentic)

Important legal notice

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32000M2200

Commission Decision of 07/12/2000 declaring a concentration to be compatible with the common market (Case No IV/M.2200 - DEUTSCHE BANK / DBG / VARTA) according to Council Regulation (EEC) No 4064/89 (Only the English text is authentic)  

Official Journal 031 , 31/01/2001 P. 0009 - 0009

		300M2200Commission Decision of 07/12/2000 declaring a concentration to be compatible with the common market (Case No IV/M.2200 - DEUTSCHE BANK / DBG / VARTA) according to Council Regulation (EEC) No 4064/89 (Only the English text is authentic)Brussels, 07.12.2000SG(2000)D/109072To the notifying parties:Dear Sir/Madam,Subject: Case No COMP/M.2200 Deutsche Bank/DBG/VartaNotification of 31/10/2000 pursuant to Article 4 of Council Regulation No 4064/891. On 06.11.2000, the Commission received a notification of a proposed concentration pursuant to Article 4 of Council Regulation (EEC) No 4064/89 [1] as last amended by Regulation (EC) No 1310/97 [2] by which Deutsche Bank ("DB") through its subsidiary DB investor, and DBG Vermögensverwaltungsgesellschaft mbH ("DBG") acquire within the meaning of Article 3(1)(b) of the Merger Regulation joint control of the whole of Varta AG ("Varta").[1] OJ L 395, 30.12.1989, p.1, corrigendum; OJ L 257, 21.9.1990, p.13.[2] OJ L 189, 9.7.1990, p.1, corrigendum; OJ L 40, 13.2.1998, p.17.2. After examination of the notification, the Commission has concluded that the notified operation falls within the scope of Council Regulation (EEC) No 4064/89 and does not raise serious doubts as to its compatibility with the common market and with the EEA AgreementI. THE PARTIES3. DB is active in the sectors of retail banking and of investment banking. Both DB Investor and DBG are active in the acquisition, administration and resale of company participation. Varta is the holding company of the Varta Group which manufactures and markets a variety of portable and starter batteries as well as torches.II. THE OPERATION AND THE CONCENTRATION4. The shares will be allocated in the following way : 35% for DBG; up to 30% for the previous shareholders and the management of Varta; at least 35% for DB investor. [...]. There will therefore be joint control over Varta exercised by Deutsche Bank and DBG and the notified operation constitutes a concentration within the meaning of Art. 3(1)b of the Merger Regulation.III. COMMUNITY DIMENSION5. The undertakings concerned have a combined aggregate world-wide turnover of more than EUR 5 billion [3] (DB EUR 51,131 million, Varta EUR 1,041 million). Each of DB and Varta have a Community-wide turnover in excess of EUR 250 million (DB EUR [...], Varta EUR [...]), but they do not achieve more than two-thirds of their aggregate Community-wide turnover within one and the same Member State. The notified operation therefore has a Community dimension.[3] Turnover calculated in accordance with Article 5(1) of the Merger Regulation and the Commission Notice on the calculation of turnover (OJ C66, 2.3.1998, p25). To the extent that figures include turnover for the period before 1.1.1999, they are calculated on the basis of average ECU exchange rates and translated into EUR on a one-for-one basis.IV. COMPETITIVE ASSESSMENT6. Neither DB, nor DBG, nor any of DB's or DBG's non-banking participation companies are engaged, in business activities similar to those of Varta or in upstream, downstream, or neighbouring markets.V. CONCLUSION7. For the above reasons, the Commission has decided not to oppose the notified operation and to declare it compatible with the common market and with the EEA Agreement. This decision is adopted in application of Article 6(1)(b) of Council Regulation (EEC) No 4064/89.For the Commission,(Signed : M. MONTI,member of the Commission)--------------------------------------------------