CELEX: 32019M9539
Language: en
Date: 2019-11-08 00:00:00
Title: Commission Decision of 08/11/2019 declaring a concentration to be compatible with the common market (Case No COMP/M.9539 - BNP PARIBAS / DEUTSCHE BANK (GLOBAL PRIME FINANCE AND ELECTRONIC EQUITIES BUSINESS ASSETS)) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                Brussels, 08.11.2019
                                                                C(2019) 8114 final
                                                                                 PUBLIC VERSION
                                                                To the notifying party
Subject:        Case M.9539 – BNP PARIBAS / DEUTSCHE BANK (GLOBAL PRIME
                FINANCE AND ELECTRONIC EQUITIES BUSINESS ASSETS)
                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 14 October 2019, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which BNP Paribas
        SA (“BNP Paribas”; France) acquires within the meaning of Article 3(1)(b) of the
        Merger Regulation sole control over certain assets of Deutsche Bank’s prime finance
        and electronic equities business, as well as well as a portfolio of listed and OTC equity
        derivatives (so-called Delta One positions) (the “Target Business”, Germany) by way
        of purchase of assets.3
2.      The business activities of the undertakings concerned are:
             for BNP Paribas: international banking group active in retail banking, asset
              management, as well as corporate and investment banking, including prime
              financing and electronic execution services;
             for the Target Business: prime financing and electronic execution services, as
              well as trading of equity derivatives.
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 358, 22.10.2019, p. 11.
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(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)
                                                  Cecilio MADERO VILLAREJO
                                                  Acting Director-General
4  OJ C 366, 14.12.2013, p. 5.
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