The French Competition Authority specifies under which conditions a merger is likely to affect competition in local markets and validates behavioural remedies due to the economic crisis (Caisse d’Epargne / Banque Populaire)

Since it was granted jurisdiction over mergers, the Competition Authority (hereafter “the Authority”) gave its first decision of approval with commitments on June 22, 2009. Even though it was a Phase I decision, the Authority performed a very thorough analysis of the operation's impact, especially on local markets. This decision is also interesting because of the commitments offered and accepted in the times of economic crisis. This case dealt with the merger of groups Caisse d'Epargne and Banque Populaire, each active in the sector of banking, insurance and real estate services, and already owning a joint subsidiary, Natixis investment bank. This merger entailed the creation of a new controlling entity including both Banque Populaire and Caisse d'épargne, and named « CEBP », and acting

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Authors

  • Freshfields Bruckhaus Deringer (Paris)
  • Freshfields Bruckhaus Deringer (Paris)

Quotation

Jérôme Philippe, Aude Guyon, The French Competition Authority specifies under which conditions a merger is likely to affect competition in local markets and validates behavioural remedies due to the economic crisis (Caisse d’Epargne / Banque Populaire), 22 June 2009, e-Competitions June 2009, Art. N° 28035

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