CELEX: 32016M8070
Language: en
Date: 2016-07-04 00:00:00
Title: Commission Decision of 04/07/2016 declaring a concentration to be compatible with the common market (Case No COMP/M.8070 - BANCOPOPULAR-E / ASSETS OF BARCLAYS BANK) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

|[pic]                             |EUROPEAN COMMISSION                                                                                      |

                                        Brussels, 4.7.2016
                                        C(2016) 4328

                                        [pic]

                                        To the notyfing party:

Dear Sirs,

Subject:    Case M. 8070 - BANCOPOPULAR-E / ASSETS OF BARCLAYS BANK
         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 9 June 2016, the European Commission received notification of a proposed concentration pursuant to Article 4 of the Merger Regulation  by
    which  the undertaking Bancopopular- E S.A ("E-Com" or the "Acquirer") acquires, within the  meaning  of  Article  3(1)(b)  of  the   Merger
    Regulation, sole control over the Barclays' payment card business in Spain and Portugal (the "Target") from Barclays Bank PLC ("Barclays" or
    the "Seller").[3]

 2. The business activities of the undertakings concerned are:

        – E-Com provides services related to the issuing of payment cards in Spain. To a lesser extent, it  also  provides  insurance  mediation
          services and insurance distribution within the Spanish market. E-Com is a joint  venture  jointly  controlled  by  Banco  Popular  and
          certain private affiliated funds managed by Värde Partners Inc. ("Värde").

        – The Target comprises Barclays' credit cards business in Portugal and Spain consisting of the origination, marketing and  servicing  of
          consumer credit accounts, consumer credit cards, consumer credit card products, consumer credit card  payment  products  and  consumer
          credit card lending. Additionally, the Target has a marginal presence in the market for the  distribution  of  insurance  services  in
          Spain and Portugal.

 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)
                                        Johannes LAITENBERGER
                                        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 216, 16.06.2016, p. 14.
[4]   OJ C 366, 14.12.2013, p. 5.

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                                                                  PUBLIC VERSION

                                                           SIMPLIFIED MERGER PROCEDURE