CELEX: 32012M6544
Language: en
Date: 2012-05-11 00:00:00
Title: Commission Decision of 11/05/2012 declaring a concentration to be compatible with the common market (Case No COMP/M.6544 - ROYAL BANK OF CANADA / RBC DEXIA INVESTOR SERVICES LIMITED) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

Important legal notice

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32012M6544

Commission Decision of 11/05/2012 declaring a concentration to be compatible with the common market (Case No COMP/M.6544 - ROYAL BANK OF CANADA / RBC DEXIA INVESTOR SERVICES LIMITED) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)  

          |EUROPEAN COMMISSION     |
             Brussels,11/05/2012
             C(2012)3261
            PUBLIC VERSION |
             SIMPLIFIED MERGER PROCEDURE
            To the notifying party  |  |
             Dear Madam(s) and/or Sir(s),
             Subject: Case No COMP/M.6544 - ROYAL BANK OF CANADA/ RBC DEXIA INVESTOR SERVICES LIMITED  Commission decision pursuant to Article 6(1)(b) of Council Regulation (EC) No 139/2004  [1]  
            1.  On 04.04.2012, the European Commission received notification of a proposed concentration pursuant to Article 4 of the Merger Regulation by which Royal Bank of Canada ("RBC", Canada) acquires within the meaning of Article 3(1)(b) of the Merger Regulation sole control of RBC Dexia Investor Services Limited ("RBC Dexia", UK), by way of purchase of shares.
            2.  The business activities of the undertakings concerned are:
              - for RBC: financial services company active in personal and commercial banking, wealth management services, insurance, corporate and investment banking and transaction processing services on a global basis;
              - for RBC Dexia: currently a joint venture company between RBC and Dexia SA, active in global custody, fund and pension administration, securities lending, shareholder services, analytics and other related services. [2]  
            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) and d) 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.
            5.  It should be noted that the decision in the present case under the Merger Regulation is without prejudice to the relevant State aid obligations of Dexia SA pursuant to the State Aid cases SA.33763, SA.33760 and SA.33764.
             For the 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]  Publication in the Official Journal of the European Union No C 110, 14.04.2012, p.8
            [3] OJ C 56, 5.3.2005, p. 32.