Friday, 19 July 2013 08:29

Decision 569/2013

Decision on the applications for granting derogation, according to article 9 par. 3 of law 3959/2011, as in force, of the "EUROBANK ERGASIAS BANK SA " regarding the intended notification of its concentrations with the financial institutions "New Proton Bank SA" and "New Postal Savings Bank of Greece SA", according to l. 3959/2011.

Decision 569/2013
File (PDF) Decision 569/2013
Date of Publication of Decision July 19th, 2013
Issue Number of Government Bulletin
Relevant Market

Retail and Business Banking, Financial Services

Subject of the Decision

Merger

Legal Framework

Article 9 par. 3 L. 3959/2011

Operative part of the Decision

Derogation was allowed

Notifying company/ies

EUROBANK ERGASIAS BANK SA

Controlled

1. New Proton Bank SA

2. New Postal Savings Bank of Greece ATE

Summary of Decision

The HCC, following no. 5801/19.07.2013 & 5802/19.07.2013 requests for derogation by "EUROBANK ERGASIAS BANK SA", granted derogation, according to article 9 par. 3 of law 3959/2011, from the obligation of not concluding the mergers regarding the intended acquisition by the applicant, through relevant agreements, of the 100% of the shares of the companies under the name: a) "New Postal Savings Bank of Greece SA" and b) "New Proton Bank SA.», without a clearance decision by the HCC. The Bank is obliged to inform the HCC about the progress of the abovementioned transactions.

Judicial Means FinalNo judicial proceedings.
Decisions by the Court of Appeal of Athens (Administrative Division) -
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