CELEX: 32015M7492
Language: en
Date: 2015-03-03 00:00:00
Title: Commission Decision of 03/03/2015 declaring a concentration to be compatible with the common market (Case No COMP/M.7492 - BBVA / GARANTI) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

|[pic]                             |EUROPEAN COMMISSION                                                                                      |

                                        Brussels, 3.3.2015
                                        C(2015) 1524 final

                                        [pic]

|To the notifying party:                                                |
|                                                                       |

Dear Madam(s) and/or Sir(s),

Subject:    Case M.7492 - BBVA / GARANTI
         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 5 February 2015, the European Commission received notification of a proposed concentration pursuant to Article 4 of the Merger Regulation
    by which Banco Bilbao Vizcaya Argentaria S.A. ("BBVA", Spain) acquires within the meaning  of  Article  3(1)(b)  of  the  Merger  Regulation
    control of the whole of Turkiye Garanti Bankasi A.S. ("Garanti", Turkey) by way of purchase of shares.[3]

 2. The business activities of the undertakings concerned are:

        – BBVA is a global banking group that offers individual and corporate customers a range of  financial  and  non-financial  products  and
          services;

        – Garanti is a Turkish listed bank that provides retail, commercial, corporate and small and medium size enterprises banking services.

 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) and 5(d) 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)
                                        Alexander ITALIANER
                                        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 51, 13.2.2015, p. 64.

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

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                                                                  PUBLIC VERSION

                                                           SIMPLIFIED MERGER PROCEDURE