CELEX: 32002M2736
Language: en
Date: 2002-04-24 00:00:00
Title: Commission Decision of 24/04/2002 declaring a concentration to be compatible with the common market (Case No COMP/M.2736 - ABB / PROMOTION CAPITAL / SINGLE SOURCE) according to Council Regulation (EEC) No 4064/89 (Only the English text is authentic)

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32002M2736

Commission Decision of 24/04/2002 declaring a concentration to be compatible with the common market (Case No IV/M.2736 - ABB / PROMOTION CAPITAL / SINGLE SOURCE) according to Council Regulation (EEC) No 4064/89 (Only the English text is authentic)  

Official Journal 106 , 03/05/2002 P. 0024 - 0024

Commission Decision of 24/04/2002 declaring a concentration to be compatible with the common market (Case No IV/M.2736 - ABB / PROMOTION CAPITAL / SINGLE SOURCE) according to Council Regulation (EEC) No 4064/89 (Only the English text is authentic) Brussels, 24/04/2002SG (2002) D/229551/229552/229553 To the notifying parties Dear Madams and Sirs,Subject: Case No. COMP/M.2736 ABB/Promotion Capital/Single Source  Notification of 21.3.2002 pursuant to Article 4 of Council Regulation (EEC) No. 4064/89 [1][1]   OJ L 395, 30.12.1989 p. 1; corrected version OJ L 257 of 21.9.1990, p. 13, as last amended by Regulation (EC) No 1310/97, OJ L 180, 9.7.1997, p. 1, corrigendum in OJ L 40, 13.2.1998, p. 17.  Publication in the Official Journal of the European Communities No. 1. On 21/03/2002, the Commission received a notification of a proposed concentration pursuant to Article 4 of Council Regulation (EEC) No 4064/89 [2] by which the undertakings ABB New Ventures BV ("ABB"), the Netherlands, which belongs to the ABB Group, Promotion Capital Ky, ("Promotion Capital"), Finland, which belongs to the Finnish OKO Bank Group, and Novitra Investment Oy ("Novitra"), Finland, acquire within the meaning of Article 3(1)(b) of the Council Regulation joint control of the undertaking Single Source Oy ("Single Source"), Finland, by way of purchase of shares.[2]  OJ L 395, 30.12.1989 p. 1; corrigendum OJ L 257 of 21.9.1990, p. 13; Regulation as last amended by Regulation (EC) No 1310/97 (OJ L 180, 9. 7. 1997, p.  1, corrigendum OJ L 40, 13.2.1998, p. 17).2. The business activities of the undertakings concerned are : - for ABB: finding, developing and investing in new business opportunities - for Promotion Capital:  fund managed by OKO Venture Capital Oy - for Novitra:  holding-company in the field of high technology - for Single Source: development and execution of project and document management software3. After examination of the notification, the Commission has concluded that the notified operation falls within the scope of Regulation (EEC) No 4064/89 and of paragraph 4, subparagraph a, of the Commission Notice on a simplified procedure for treatment of certain concentrations under Council Regulation (EEC) No 4064/89 [3].[3]   OJ C 217, 29.07.2000, p. 32.4. For the reasons set out in the Notice on a simplified procedure, the Commission has decided not to oppose the notified operation and to declare it compatible with the common market and with the EEA Agreement.  This decision is adopted in application of Article 6(1)(b) of Council Regulation (EEC) No. 4064/89.    For the Commission,  Mario Monti        Member of the Commission        (signed)