CELEX: 32010M5896
Language: en
Date: 2010-07-30 00:00:00
Title: Commission Decision of 30/07/2010 declaring a concentration to be compatible with the common market (Case No COMP/M.5896 - CREDIT SUISSE / BARCLAYS / IONBOND GROUP) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

|

32010M5896

Commission Decision of 30/07/2010 declaring a concentration to be compatible with the common market (Case No COMP/M.5896 - CREDIT SUISSE / BARCLAYS / IONBOND GROUP) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)  

         (.PICT.)(.PICT.) |EUROPEAN COMMISSION     |
            Brussels , 30.07.2010
             SG-Greffe(2010) D/11891, 11892
             C(2010) 5436
             PUBLIC VERSION
             MERGER PROCEDURE ARTICLE 6(1)(b) DECISION
             SIMPLIFIED PROCEDURE
              To the notifying parties:
             Dear Madam(s) and/or Sir(s),
             Subject: Case No COMP/M.5896 – CREDIT SUISSE/ BARCLAYS/ IONBOND GROUP Notification of 28.06.2010 pursuant to Article 4 of Council Regulation (EC) No 139/2004  [1]  Publication in the Official Journal of the European Union No C 178, 03.07.2010, p.11
             1.  On 28 June 2010, the European Commission received a notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) No 139/2004  [2]  by which the undertakings Barclays Plc ("Barclays", United Kingdom) and Credit Suisse Group AG ("Credit Suisse", Switzerland) acquire within the meaning of Article 3(1)(b) of the  Merger Regulation joint control of the whole of the undertaking SSCP Coatings SARL ("Ionbond Group", Switzerland) by way of purchase of shares.
             2. The business activities of the undertakings concerned are:
              - for Barclays: global financial services providing, retail and commercial banking, credit cards, investment banking, wealth management and investment management services;
              - for Credit Suisse: global financial services providing, retail and commercial banking, wealth management, investment banking and asset management;
              - for Ionbond Group: surface treatment of mainly metal parts with the aim of improving certain of their properties, such as controlling the friction and wear of a component, improving resistance against corrosion, changing its physical properties etc.
             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(a) of the Commission Notice on a simplified procedure for treatment of certain concentrations under Council Regulation (EC) No 139/2004 [3]  .  
             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.
             For the European Commission, (signed) Alexander ITALIANER Director General
            [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 24, 29.1.2004, p. 1 (the "Merger Regulation")
            [3] OJ C 56, 5.3.2005, p. 32.