01 October 2008

Commission clears acquisition of parts of ABN AMRO's assets by Deutsche Bank

The Commission concluded that the proposed transaction would not raise competition concerns. However, the Dutch Central Bank has suspended its decision on the sale of those same assets, citing circumstances on the financial markets.

The Commission has cleared under the EU Merger Regulation the proposed acquisition of certain assets of the Dutch banking group ABN AMRO by Germans Deutsche Bank concluding that the proposed transaction would not raise competition concerns.

 

The proposed transaction would result in an overlap in the parties' activities in the market for factoring in The Netherlands, the Commission finds. However, the parties' combined market share would remain below 25% and a number of significant competitors are active on this market. In all other markets involved, such as the market for corporate banking, the combined market shares would be below 15%.

 

However, in the meantime the Dutch Central Bank has suspended its decision on the sale of those same assets, citing circumstances on the financial markets.

 

Press release

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