CELEX: 31992M0241
Language: en
Date: 1992-07-13 00:00:00
Title: COMMISSION DECISION of xxx declaring a concentration to be compatible with the common market (Case No IV/M.241 - EUROCARD / EUROCHEQUE - EUROPAY) according to Council Regulation (EEC) No 4064/89 (Only the English text is authentic)

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31992M0241

COMMISSION DECISION of xxx declaring a concentration to be compatible with the common market (Case No IV/M.241 - EUROCARD / EUROCHEQUE - EUROPAY) according to Council Regulation (EEC) No 4064/89 (Only the English text is authentic)  

Official Journal C 182 , 18/07/1992 P. 0000

 COMMISSION DECISION of 13.07.1992 declaring a concentration to  be compatible with the common market (Case No IV/M.241 -  EUROCARD / EUROCHEQUE - EUROPAY) according to Council  Regulation (EEC) No 4064/89  (Only the English text is authentic)  The paper version of the decision is available through the  sales offices of the Office of Official Publications of the  European Communities. PUBLIC VERSION MERGER PROCEDURE ARTICLE 6(1)(a) DECISION Registered with advice of delivery 1. To the notifying party 2. To the notifying party Dear Sirs, Subject: <ind> Case No IV/M241 - EUROCARD/EUROCHEQUE-EUROPAY. <tab> <ind> <ind> Your notification pursuant to Article 4 of  Council Regulation (EEC) No 4064/89.  1.<ind> On 10.06.1992 Eurocard International S.A. (ECI),  Eurocheque International S.C. (ecISC) and Eurocheque  International Holdings S.A. (ecIHSA) notified an operation by  which they intend to create a new entity: Europay International  S.A..  2.<ind> After examination of the notification, the Commission  has concluded that the proposed operation does not fall within  the scope of the Merger Regulation.  I.<ind> THE PARTIES AND THE PROPOSED OPERATION  3.<ind> ECI is a company under Belgian law managing the  Eurocard system in Europe and in a partnership with MasterCard  International on a worldwide basis.  4.<ind> ecISC is a cooperative society under Belgian law  managing the eurocheque cheque guarantee and ATM payment system  covering Europe and the countries bordering the Mediterranean.  5.<ind> ecIHSA is also a company under Belgian law, having as  its main purpose the participation in other companies.  6.<ind> ecIHSA and ECI currently own 85% of European Payment  Systems Service S.A. (EPSS) with MasterCard International  holding the remaining 15%. EPSS offers clearing, settlement and  authorisation services in support of intra-European and  worldwide cross-border transactions.  7.<ind> Europay will take over all the assets, liabilities and  activities of ECI, ecISC and ecIHSA which will be  simultaneously liquidated not later than the 2nd June 1993. The  purpose of the new company is to provide payment systems and  related services to licensed banks.  II.<ind> LACK OF COMMUNITY DIMENSION  8.<ind> The proposed operation does not have a Community  dimension since total worldwide turnover of the undertakings  concerned does not exceed the 5 billion ECU threshold set out  in Article 1.  III. CONCLUSION  9.<ind> Based on the above, and regardless of whether the  proposed operation is a concentration within the meaning of  Article 3, it can be concluded that the notified operation does  not fall within the scope of the Merger Regulation.  This decision is adopted in application of Article 6(1)a of  Council Regulation No 4064/89.  For the Commission,