CELEX: 32020M9844
Language: en
Date: 2020-06-08 00:00:00
Title: Commission Decision of 08/06/2020 declaring a concentration to be compatible with the common market (Case No COMP/M.9844 - SOCIÉTÉ GÉNÉRALE / MITSUBISHI / JV) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                Brussels, 08.06.2020
                                                                C(2020) 3901 final
                                                                                 PUBLIC VERSION
                                                                To the notifying parties
Subject:        Case M.9844 – SOCIÉTÉ GÉNÉRALE / MITSUBISHI / JV
                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 11 May 2020, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which the
        undertakings ALD S.A. (‘ALD’, France), controlled by Société Générale (France) and
        Mitsubishi UFJ Lease & Finance Company Limited (‘Mitsubishi’, Japan), acquire
        within the meaning of Articles 3(1)(b) and 3(4) of the Merger Regulation joint control
        of a newly created company constituting a joint venture (‘the JV’) by way of purchase
        of shares.3
2.      The business activities of the undertakings concerned are:
             for ALD: provides full service vehicle leasing and fleet management to large
              corporates, small to medium sized companies and private individuals across 43
              countries. ALD is controlled by Société Générale, a financial services group
              active in France and worldwide;
             for Mitsubishi: active in Japan and globally, providing a variety of financial
              services including finance lease, operating lease focused on asset values, auto
              lease, real estate leases etc. It is also involved in rental services, trading of used
              equipment, insurance operations and services to customers;
             for the JV: will provide a multi-brand, full service operational leasing and fleet
              management business with related mobility products in Malaysia.
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 171, 19.05.2020, 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(a) 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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