Document ID: docfile:98bd1bf0-8d64-439c-9d25-0736a8bcdb7d
Source Database: euc_mergers
Source URL: https://ec.europa.eu/competition/mergers/cases1/202438/M_11678_10256407_47_3.pdf
Title: KBC BANK / BNP PARIBAS FORTIS / JOYN INTERNATIONAL
Date: 2024-10-07T00:00:00.000+02:00
Metadata: {"caseNumber": "M.11678", "caseInstrument": "M", "caseTitle": "KBC BANK / BNP PARIBAS FORTIS / JOYN INTERNATIONAL", "caseLastDecisionDate": "2024-10-06T22:00:00.000Z", "caseCompanies": ["KBC BANK / BNP PARIBAS FORTIS / JOYN INTERNATIONAL"]}

Disclaimer :

The Competition DG makes the information provided by the notifying parties in section 4 of Short Form CO available to the public in order to increase transparency. This information has been prepared by the notifying parties under their sole responsibility, and its content in no way prejudges the view the Commission may take of the planned operation. Nor can the Commission be held responsible for any incorrect or misleading information contained therein.

M.11678 – KBC BANK / BNP PARIBAS FORTIS / JOYN INTERNATIONAL

SECTION 4

**Description of the concentration**

This notification concerns the following undertakings:

KBC Bank NV (“KBC”), a public limited liability company (naamloze vennootschap / société anonyme), incorporated and existing under the laws of Belgium, having its registered office at Havenlaan 2, 1080 Brussels, Belgium, and registered with the Crossroads Bank for Enterprises under number 0462.920.226. Its shares are publicly traded.

BNP Paribas Fortis NV (“BNPPF”),  a public limited liability company (naamloze vennootschap / société anonyme), incorporated and existing under the laws of Belgium, having its registered office at Warandeberg 3, 1000 Brussels, Belgium, and registered with the Crossroads Bank for Enterprises under number 0403.199.702. Its shares can be traded through Euronext's weekly auctions.

KBC and BNPPF acquire, within the meaning of Article 3(1)(b) of the Merger Regulation, joint control over Joyn International NV (“Joyn” or the “Target”). The concentration is accomplished by way of purchase of shares by KBC and BNPPF held by ING Belgium NV (“ING” or the “Seller”).

The business activities of the undertakings concerned are:

    • KBC is part of the KBC group, an integrated bank-insurer group focusing on retail, private and corporate clients.

    • BNPPF, a provider of banking and financial services to retail, corporate and institutional clients. BNPPF is part of the BNP Paribas Group, a global banking group active in retail banking, asset management and services, as well as corporate and investment banking.

    • Joyn, offers a digital loyalty card and related marketing services to local retailers. In this domain, they offer user-friendly solutions to support local merchants in their business development.

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