CELEX: 32021M10043
Language: en
Date: 2021-03-26 00:00:00
Title: Commission Decision of 26/03/2021 declaring a concentration to be compatible with the common market (Case No COMP/M.10043 - CDC / PBB / CAPVERIANT) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                Brussels, 26.3.2021
                                                                C(2021) 2266 final
                                                                                 PUBLIC VERSION
                                                                Deutsche Pfandbriefbank AG
                                                                Parkring 28
                                                                85748 Garching
                                                                Germany
                                                                Caisse des Dépôts et Consignations
                                                                56, rue de Lille
                                                                75007 Paris
                                                                France
Subject:        Case M.10043 – CDC / PBB / CAPVERIANT
                Commission decision pursuant to Article 6(1)(b) of Council Regulation
                                       1
                (EC) No 139/2004 and Article 57 of the Agreement on the European
                                    2
                Economic Area
Dear Sir or Madam,
1.      On 4 March 2021, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which the
        undertakings Deutsche Pfandbriefbank AG (‘PBB’, Germany) and Caisse des dépôts
        et consignations (‘CDC’, France) acquire within the meaning of Article 3(1)(b) and
        3(4) of the Merger Regulation joint control over the whole of the undertaking
        Capveriant GmbH (‘Capveriant’, Germany) by way of purchase of shares.3
2.      The business activities of the undertakings concerned are:
             for Capveriant: a digital platform that connects public sector entities that need
              financings and lenders that offer loans and bonds, launched by PBB in the
              German market in 2018 and in the French market in 2019. It also offers a few
              ancillary services.
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, 12.03.2021, p. 6.
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---        for PBB: the holding company of the PBB group, which is active in the finance
        banking and more specifically in the commercial real estate and public sector
        financing services. PBB mainly provides lending services.
       for CDC: a French special status public establishment, that, along with its
        subsidiaries form a public group serving the general interest and the country’s
        economic development. This group fulfils missions of general interest in support
        of public policies conducted by the French State and local authorities. It has two
        main areas of activities: (i) public service / general interest activities, and (ii)
        open-market business activities.
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(a) and (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)
                                                   Olivier GUERSENT
                                                   Director-General
4  OJ C 366, 14.12.2013, p. 5.
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