Tuesday, 30 September 2014 00:00

Decision 592/2014

Decision on the priori notification with ref. no. 4657/24.6/2014 of the concentration, pursuant to article 6 par. 1-3  of L. 3959/2011, regarding the acquisition of sole control by the company “ALPHA BANK S.A.”: a) of the assets owned by “CITIBANK INTERNATIONAL PLC”that make up the retail banking sector maintained by the latter in Greece and b) of all the shares issued by the public limited company “DINERS CLUB OF GREECE FINANCE COMPANY S.A.”

Decision 592/2014
File (PDF) Decision 592/2014
Date of Publication of Decision September 30th, 2014
Issue Number of Government Bulletin
Relevant Market

Retail and Corporate Banking, Card Issuing and Acquiring, Marketing Mutual Funds, Insurance Intermediation

Subject of the Decision

Merger

Legal Framework

Phase II (Article 8 par. 6 of  L. 3959/2011)

Operative part of the Decision

Clearance

Acquiring company/ies

ALPHA BANK S.A.

Targeted company/ies

1. CITIBANK ΙNTERNATIONAL PLC

2. DINERS CLUB OF GREECE FINANCE COMPANY S.A.

Summary of Decision

Clearance of the concentration regarding the acquisition of sole control by the company “ALPHA BANK S.A.”over the assets owned by “CITIBANK INTERNATIONAL PLC” that make up the retail banking sector maintained by the latter in Greece and of all the shares issued by the public limited company “DINERS CLUB OF GREECE FINANCE COMPANY S.A.”.

The HCC Plenary,  with  its decision No 592/2014, unanimously approved the notified concentration, pursuant to article 6 par.1 of L 3959/2011, regarding the acquisition of sole control by the company “ALPHA BANK S.A.”over a)  the assets owned by “CITIBANK INTERNATIONAL PLC”that make up the retail banking sector for small and medium-sized enterprises (SME’s) and the mutual fund marketing and insurance intermediation activities maintained by the latter in Greece and b) of all the shares issued by the public limited company “DINERS CLUB OF GREECE FINANCE COMPANY S.A.”.

The HCC decided that the said concentration, which refers primarily to the banking sector, does not raise serious doubts as to its compatibility with the competition rules in the relevant markets concerned.

Judicial Means Final. No appeal.
Decisions by the Court of Appeal of Athens (Administrative Division) -
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