M/13/007 – DZ Bank / UMH / WGZ Bank
Transaction details
The proposed establishment of a joint venture by DZ Bank AG, Union Asset Management Holding AG and WGZ Bank AG has been cleared by the Competition Authority.
| Notification date | Decision date |
|---|---|
| Thursday March 14, 2013 | Tuesday, April 9, 2013 |
| Parties Involved | Business activities |
|---|---|
| DZ Bank AG | DZ Bank is a central and commercial bank incorporated in Frankfurt am Main, Germany. |
| Union Asset Management Holding AG | UMH, based in Frankfurt am Main, Germany, was founded in 1956, and provides asset management services to private and institutional clients. |
| WGZ Bank AG | WGZ Bank is a member of the Association of Cooperative Banks / Cooperative Financial Services Network (FinanzGruppe Volksbanken und Raiffeisenbanken) and is the regional central bank for approximately 200 local cooperative banks / credit unions in the North Rhine, Westphalia and Rhineland Pfalz regions of Germany. |
| Economic sector | Media merger |
|---|---|
| Business consultancy services to retail cooperative banks in Germany. | No |
| Submissions from third parties due by: | |
|---|---|
| Phase 1 | Phase 2 |
| Monday, April 1, 2013 | |
| Current status: Completed |
|---|
| Cleared (Phase 1) |
| Authorised Officer Assigned | Contact Details |
|---|---|
| Joseph Walser | Tel: 01-804 5402, email: jw@tca.ie |
Media enquiries: MKC Communications: 01 7038600
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