CELEX: 32020M9806
Language: en
Date: 2020-07-03 00:00:00
Title: Commission Decision of 03/07/2020 declaring a concentration to be compatible with the common market (Case No COMP/M.9806 - HYUNDAI CAPITAL BANK EUROPE / SIXT LEASING) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                Brussels, 03.07.2020
                                                                C(2020) 4602 final
                                                                                 PUBLIC VERSION
                                                                To the notifying party
Subject:        Case M.9806 – HYUNDAI CAPITAL BANK EUROPE / SIXT LEASING
                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 4 June 2020, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which Hyundai
        Capital Bank Europe GmbH (“HCBE”, Germany) acquires within the meaning of
        Article 3(1)(b) of the Merger Regulation sole control over Sixt Leasing SE (“Sixt
        Leasing”, Germany) by way of public bid announced on 21 February 2020.3
2.      The business activities of the undertakings concerned are:
             for HCBE: a bank that is active in automotive financing services, including
              financial leases, and the distribution of insurances, in Germany. HCBE is jointly
              controlled by Santander Consumer Bank AG (“SCB”, Germany) and Hyundai
              Capital Services, Inc. (“HCS”, South Korea). SCB and the Spain-based Santander
              group to which SCB belongs offer leasing and other automotive financing
              services and also distribute insurances in Germany, France and Austria and
              several other EEA countries. HCS is the financial services arm of the South
              Korean car manufacturing Hyundai Motor Group,
             for Sixt Leasing: a Germany-based company that offers automotive leasing and
              related fleet management services in Germany, France and Austria. The company
              also distributes insurances.
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
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 (the ‘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 196, 11.6.2020, p. 17.
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---    paragraph 5(c) 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.
                                              2