| Decision 564/2013 | |
|---|---|
| File (PDF) | Decision 564/2013 |
| Date of Publication of Decision | MARCH 25th, 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 |
PIRAEUS BANK SA |
| Controlled |
1. BANK OF CYPRUS PUBLIC COMPANY LIMITED 2. CYPRUS POPULAR BANK PUBLIC CO LTD 3. HELLENIC BANK PUBLIC COMPANY LIMITED |
| Summary of Decision |
The Plenary Session of the HCC in an extraordinary meeting andafter considering the need to protect financial stability in the Greek banking market and ensure direct access of the public to services and products of the Greek branches of the credit institutions: (a) "BANK OF CYPRUS PUBLIC LIMITED PUBLIC COMPANY", (b) "CYPRUS POPULAR BANK PUBLIC CO LTD" and (c) "HELLENIC BANK PUBLIC COMPANY LIMITED", based in Cyprus, decided unanimously with Decision no. 564 / VII / 2013, to grant derogation to the "PIRAEUS BANK SA", upon request, based on article 9 par. 3 of law 3959/2011, and to allow the completion of the notified concentration concerning the acquisition by the applicant of selected assets and liabilities in Greece of the above credit institutions, before the formal clearance decision is issues by the HCC. |
| Judicial Means | Final. No judicial proceedings. |
| Decisions by the Court of Appeal of Athens (Administrative Division) | - |
