CELEX: 32015M7597
Language: en
Date: 2015-05-18 00:00:00
Title: Commission Decision of 18/05/2015 declaring a concentration to be compatible with the common market (Case No COMP/M.7597 - SABADELL / TSB) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

|[pic]                             |EUROPEAN COMMISSION                                                                                      |

                                        Brussels, 18.5.2015
                                        C(2015) 3459 final

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|To the notifying party:                                                |                                                                       |
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Dear Sirs,

Subject:    Case M.7597 - SABADELL/ TSB
         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 20.04.2015, the European Commission received notification of a proposed concentration pursuant to Article 4 of the Merger  Regulation  by
    which Banco de Sabadell, S.A. ('Sabadell', Spain) acquires within the meaning of Article 3(1)(b) of the Merger Regulation, sole  control  of
    TSB Banking Group plc ('TSB', the United Kingdom), by way of a public bid.[3]

 2. The business activities of the undertakings concerned are:

      -     for Sabadell: provision of banking and insurance services mainly in Spain.

      -     for TSB: provision of retail banking services to individuals; corporate banking services to small and medium-sized  enterprises;  and
          credit card payment services, all in the United Kingdom.

 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)
                                        Alexander ITALIANER
                                        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]   OJ C 139, 28.04.2014, p. 3.

[4]   OJ C 366, 14.12.2013, p. 5.

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                                                                  PUBLIC VERSION

                                                           SIMPLIFIED MERGER PROCEDURE