CELEX: 32020M9658
Language: en
Date: 2020-01-22 00:00:00
Title: Commission Decision of 22/01/2020 declaring a concentration to be compatible with the common market (Case No COMP/M.9658 - DAIWA SECURITIES GROUP / AQUILA HOLDING / AQUILA CAPITAL HOLDING) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                Brussels, 22.1.2020
                                                                C(2020) 438 final
                                                                                 PUBLIC VERSION
                                                                To the notifying parties
Subject:        Case M.9658 - DAIWA SECURITIES GROUP / AQUILA HOLDING /
                AQUILA CAPITAL HOLDING
                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 19 December 2019, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which Daiwa
        Securities Group Inc. (“Daiwa”, Japan) and Aquila Holding GmbH (“Aquila
        Holding”, Germany) acquire within the meaning of Article 3(1)(b) and Article 3(4) of
        the Merger Regulation joint control of the whole of Aquila Capital Holding GmbH
        (“Aquila Capital”, Germany) by way of purchase of shares.3
2.      The business activities of the undertakings concerned are:
             Daiwa is a financial services company listed on the Tokyo Stock Exchange,
              which provides a broad range of financial services;
             Aquila Holding is a privately-owned holding company, whose sole purpose is to
              hold shares in Aquila Capital. Aquila Holding’s shareholders have other
              controlling investments in different businesses;
             Aquila Capital is an asset and investment manager focusing on long-term and
              sustainable investment solutions.
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 002, 6.1.2020, 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(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)
                                                  Olivier GUERSENT
                                                  Director-General
4  OJ C 366, 14.12.2013, p. 5.
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