CELEX: 32015M7514
Language: en
Date: 2015-03-27 00:00:00
Title: Commission Decision of 27/03/2015 declaring a concentration to be compatible with the common market (Case No COMP/M.7514 - AMERICAN EXPRESS / CREDIT SUISSE / SWISSCARD) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

|[pic]                             |EUROPEAN COMMISSION                                                                                      |

                                        Brussels, 27.03.2015
                                        C(2015)2272

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|To the notifying parties:                                              |                                                                       |

Dear Madam(s) and/or Sir(s),

Subject:    Case M.7514 - American Express / Credit Suisse / Swisscard

         Commission decision pursuant to Article 6(1)(b) of Council Regulation (EC) No 139/2004[1] and Article 57 of the Agreement on the
         European Economic Area[2]

 1. On 3.03.2015, the European Commission received notification of a proposed concentration pursuant to Article 4 of the  Merger  Regulation  by
    which the undertakings American Express Swiss Holdings GmbH, ultimately controlled by American Express Company (together  American  Express,
    USA) and Credit Suisse Group AG (Credit Swisse, Switzerland) acquire within the meaning of Article 3(1)(b) and 3(4) of the Merger Regulation
    joint control of the undertaking Swisscard AECS GmbH (Swisscard, Switzerland) by way of purchase of shares in a company constituting a joint
    venture.[3]

 2. The business activities of the undertakings concerned are:

  – for American Express: provision of credit card financial services and business and leisure  travel  services  to  consumers  and  businesses
    around the world; payment card issuing and merchant acquiring worldwide;

  – for Credit Suisse: provision of financial services to individuals, businesses and institutional customers worldwide;

  – for Swisscard: general purpose card issuing and American Express merchant acquiring in Switzerland and Lichtenstein.

 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)
                                        Alexander ITALIANER
                                        Director-General
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[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 082,10.03.2015, p. 6.

[4]   OJ C 366, 14.12.2013, p. 5.

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                                                                  PUBLIC VERSION

                                                           SIMPLIFIED MERGER PROCEDURE