CELEX: 32019M9254
Language: en
Date: 2019-03-20 00:00:00
Title: Commission Decision of 20/03/2019 declaring a concentration to be compatible with the common market (Case No COMP/M.9254 - MUTB / CFSGL/CBA) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                Brussels, 20.3.2019
                                                                C(2019) 2286 final
                                                                       PUBLIC VERSION
                                                                To the notifying party:
Subject:        Case M.9254 - MUTB / CFSGAM
                Commission decision pursuant to Article 6(1)(b) of Council Regulation (EC)
                                1                                                                             2
                No 139/2004 and Article 57 of the Agreement on the European Economic Area
Dear Sir or Madam,
1.      On 25 february 2019, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which Mitsubishi UFJ
        Trust and Banking Corporation (“MUTB”, Japan) acquires within the meaning of Article
        3(1)(b) of the Merger Regulation control of the whole of Colonial First State Global Asset
        Management group (“CFSGAM”, Australia) by way of purchase of shares.3
2.      The business activities of the undertakings concerned are:
             MUTB is a wholly-owned subsidiary of Mitsubishi UFJ Financial Group, Inc.
              (“MUFG”), that operates globally and provides a full range of banking services.
              Depending on the geographical region, these include retail, corporate, and investment
              banking services, as well as asset management and sales and trading services.
             CFSGAM is the global asset management business of the Commonwealth Bank of
              Australia (“CBA”). CFSGAM offers products across equities, fixed income and
              alternatives (property and infrastructure) for institutional investors as well as
              corporate/retail investors. CFSGAM is active in a number of jurisdictions, including
              Sydney, Edinburgh, Hong Kong, London, New York and Singapore. Outside of
              Australia it is also known as First State Investments (“FSI”).
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 83, 5.03.2019, p. 9.
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)
                                                    Johannes LAITENBERGER
                                                    Director-General
4  OJ C 366, 14.12.2013, p. 5.
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