CELEX: 32020M9875
Language: en
Date: 2020-10-29 00:00:00
Title: Commission Decision of 29/10/2020 declaring a concentration to be compatible with the common market (Case No COMP/M.9875 - BGL BNP PARIBAS / POST LUXEMBOURG / i-HUB) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                Brussels, 29.10.2020
                                                                C(2020) 7615 final
                                                                                PUBLIC VERSION
                                                                To the Notifying parties
Subject:        Case M.9875 — BGL BNP Paribas/POST Luxembourg/i-Hub
                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 2 October 2020, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which BGL BNP
        Paribas (“BGL”, Luxembourg), belonging to the BNP Paribas group (France), and
        POST Luxembourg (“POST”, Luxembourg), acquire within the meaning of Articles
        3(1)(b) and 3(4) of the Merger Regulation joint control over the whole of the
        undertaking i-Hub S.A. (“I-Hub”, Luxembourg), currently solely controlled by POST,
        by way of purchase of shares in a newly created company constituting a joint venture.3
2.      The business activities of the undertakings concerned are:
             for BGL: credit institution providing a range of banking services in Luxembourg,
              including retail banking, international financial services and corporate and
              institutional banking,
             for POST: provider of postal, telecommunication, ICT and banking services in
              Luxembourg. POST is wholly owned by the Luxembourg State,
             for i-Hub: provider of compliance support services, which involve, via its
              repository platform, assisting undertakings conducting Know Your Customer
              (“KYC”) checks in order to comply with their anti-money laundering
              investigations.
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 338, 12.10.2020, 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)
                                                  Olivier GUERSENT
                                                  Director-General
4  OJ C 366, 14.12.2013, p. 5.
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