CELEX: 32004M3660
Language: en
Date: 2004-12-23 00:00:00
Title: Commission Decision of 23/12/2004 declaring a concentration to be compatible with the common market (Case No COMP/M.3660 - SOCIETE GENERALE / OTTO / HANSEATIC BANK / JV) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

Important legal notice

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32004M3660

Commission Decision of 23/12/2004 declaring a concentration to be compatible with the common market (Case No IV/M.3660 - SOCIETE GENERALE / OTTO / HANSEATIC BANK / JV) according to Council Regulation (EEC) No 4064/89 (Only the English text is authentic)  


		Brussels, 23.12.2004SG-Greffe(2004) D/ D/206389+90To the Notifying PartiesDear Madam and/or Sir,Subject: Case No. COMP/M.3660 - Société Générale/Otto/Hanseatic Bank/JVNotification of 26.11.2004 pursuant to Article 4 of Council Regulation (EC) No. 139/2004 [1]Publication in the Official Journal of the European Union No. C 299, December 4, 2004.1. On 26.11.2004 the Commission received a notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) No 139/2004 by which the undertakings Société Générale SA (“SG”, France) and Otto GmbH & Co. KG (“Otto”, Germany) acquire within the meaning of Article 3(1)(b) of the Council Regulation joint control of Hanseatic Bank GmbH & Co. KG (“Hanseatic Bank”, Germany), by way of purchase of shares.2. The business activities of the undertakings concerned are:- for SG :banking and financial services,- for Otto : retailing by mail order, and- for Hanseatic Bank : banking.3. After examination of the notification, the Commission has concluded that the notified operation falls within the scope of Council Regulation (EC) No. 139/2004 and of paragraph 5, subparagraph c, of the Commission Notice on a simplified procedure for treatment of certain concentrations under Council Regulation (EC) No139/2004 [2].4. For the reasons set out in the Notice on a simplified procedure, 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 (EC) No. 139/2004.For the CommissionsignedNeelie KROESMember of the Commission[1] OJ L 24, 29.1.2004 p. 1[2] Available on DG COMP website: http://europa.eu.int/comm/competition/mergers/legislation/consultation/simplified_tru.pdf.--------------------------------------------------