CELEX: 32019M8934
Language: en
Date: 2019-06-13 00:00:00
Title: Commission Decision of 13/06/2019 declaring a concentration to be compatible with the common market (Case No COMP/M.8934 - Danske Bank A/S / DNB Bank ASA / Skandinaviska Enskilda Banken AB) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                Brussels, 13.06.2019
                                                                C(2019) 4501 final
                                                                                 PUBLIC VERSION
                                                                To the notifying parties
Subject:        Case M.8934 - DANSKE BANK / DNB / NORDEA BANK / SEB/
                SVENSKA HANDELSBANKEN / SWEDBANK / KYC Utility
                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 17 May 2019, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which Danske Bank
        A/S (“Danske Bank”, Denmark), DNB Bank ASA (“DNB”, Norway), Nordea Bank
        Abp (“Nordea”, Sweden), Skandinaviska Enskilda Banken AB (“SEB”, Sweden),
        Svenska Handelsbanken AB (“Svenska Handelsbanken”, Sweden), Swedbank AB
        (“Swedbank”, Sweden) aquire within the meaning of Articles 3(1)(b) and 3(4) of the
        Merger Regulation joint control over a newly created joint venture (“KYC Utility”) by
        way of purchase of shares.3
2.      The business activities of the undertakings concerned are:
             Danske Bank, DNB, Nordea, SEB, Svenska Handelsbanken, and Swedbank are
              banking groups based in the Nordics;
             KYC Utility will be active in the Nordic region offering Know Your Customer
              (“KYC”) services consisting in gathering, validating, and providing to customers,
              such as banks and financial institutions, the information required under the
              applicable anti-money laundering and counter-terrorist financing regulations, with
              the view of facilitating compliance with these regulations.
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 181, 27.05.2019, p. 6.
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--- 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 139/2004.4
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)
                                                  Johannes LAITENBERGER
                                                  Director-General
4  OJ C 366, 14.12.2013, p. 5.
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