M/11/013 – DZ BANK / WGZ BANK / DZ PRIVATBANK
Transaction details
The Competition Authority has cleared the proposed acquisition by DZ BANK AG and WGZ BANK AG of joint control of DZ PRIVATBANK S.A.
| Notification date | Decision date |
|---|---|
| Wednesday May 4, 2011 | Monday, May 30, 2011 |
| Parties Involved | Business activities |
|---|---|
| DZ BANK AG | DZ BANK Ireland plc is a wholly owned subsidiary of DZ BANK. DZ BANK Ireland plc is focussed on high grade investments via floating rate notes, asset swaps, syndicated and bilateral loans to a range of parties. |
| WGZ BANK AG | WGZ BANK Ireland plc is a wholly owned subsidiary of WGZ BANK. WGZ BANK Ireland plc operates as a full commercial bank. |
| DZ PRIVATBANK S.A. | DZ PRIVATBANK is a subsidiary of DZ BANK, incorporated in Luxembourg. DZ PRIVATBANK is active in the private banking sector as well as the provision of funds services, foreign currency lending and treasury services, which are provided as complementary services to DZ PRIVATBANK's private banking services. |
| Economic sector | Media merger |
|---|---|
| The provision of private banking services primarily in Germany. | No |
| Submissions from third parties due by: | |
|---|---|
| Phase 1 | Phase 2 |
| Sunday, May 15, 2011 | |
| Current status: Completed |
|---|
| Cleared (Phase 1) |
| Authorised Officer Assigned | Contact Details |
|---|---|
| Barry O'Donnell | Tel: 01-804 5396, email: bod@tca.ie |
Media enquiries: MKC Communications: 01 7038600
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