CELEX: 32017M8643
Language: en
Date: 2017-10-31 00:00:00
Title: Commission Decision of 31/10/2017 declaring a concentration to be compatible with the common market (Case No COMP/M.8643 - LEGEND HOLDINGS CORPORATION / BANQUE INTERNATIONALE A LUXEMBOURG) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                Brussels, 31.10.2017
                                                                C(2017) 7427 final
                                                                        PUBLIC VERSION
                                                                To the notifying party
Subject:        Case M.8643 - LEGEND HOLDINGS CORPORATION / BANQUE
                INTERNATIONALE A LUXEMBOURG
                Commission decision pursuant to Article 6(1)(b) of Council Regulation (EC)
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                No 139/2004 and Article 57 of the Agreement on the European Economic Area
Dear Sir or Madam,
1.      On 9 October 2017, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which Legend Holdings
        Corporation (“Legend Holdings”, China) acquires within the meaning of Article 3(1)(b) of
        the Merger Regulation control of the whole of Banque Internationale à Luxembourg S.A.
        and its subsidiaries (“BIL”, Luxembourg). by way of purchase of shares.3
2.      The business activities of the undertakings concerned are:
        −     Legend Holdings: a diversified investment holding group listed on the Hong Kong
              Stock Exchange with a portfolio of strategic and financial investments;
        −     BIL: a private banking group operating in retail, private and corporate banking
              activities, with Luxembourg as its main geographic focus.
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(b) of
        the Commission Notice on a simplified procedure for treatment of certain concentrations
        under Council Regulation (EC) No 139/2004.4
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 348, 17.10.2017, p. 18.
4       OJ C 366, 14.12.2013, p. 5.
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--- 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)
                                                   Johannes LAITENBERGER
                                                   Director-General
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