CELEX: 32015M7715
Language: en
Date: 2015-10-09 00:00:00
Title: Commission Decision of 09/10/2015 declaring a concentration to be compatible with the common market (Case No COMP/M.7715 - BNP PARIBAS / GE CAPITAL (EUROPEAN FLEET LEASING BUSINESS)) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

|[pic]                             |EUROPEAN COMMISSION                                                                                      |

                                        Brussels, 9.10.2015
                                        C(2015) 7005 final

                                        [pic]

|To the notifying party:                                                |                                                                       |

Dear Sirs,

Subject:    Case M.7715 – BNP PARIBAS/ GE CAPITAL (EUROPEAN FLEET LEASING BUSINESS)
         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 14 September 2015, the European Commission received notification of a  proposed  concentration  pursuant  to  Article  4  of  the  Merger
    Regulation by which the undertaking BNP Paribas SA ("BNP Paribas", France) acquires via its wholly-owned subsidiary Arval Service  Lease  SA
    within the meaning of Article 3(1)(b) of the Merger Regulation control over the European vehicle fleet leasing business  (the  "Target")  of
    General Electric Capital Corporation ("GE", USA), by way of purchase of securities and assets.[3]

 2. The business activities of the undertakings concerned are:

      – BNP Paribas SA is the parent company of the BNP Paribas Group. The Group’s business can be divided into two  main  branches:  (i)  retail
        banking and services, and (ii) corporate and institutional banking. Within the first branch, apart from its activity of  retail  banking,
        it also provides other services such as vehicle fleet leasing and management services via Arval Service Lease SA.

      – The Target is active in long term vehicle fleet leasing and management services in 12 European countries.

 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 6 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 312, 22.09.2015, p.2.

[4]   OJ C 366, 14.12.2013, p. 5.

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                                                                  PUBLIC VERSION

                                                           SIMPLIFIED MERGER PROCEDURE