Case details

Merger control

Case reference

CCENT/2009/25 - BANIF/TECNICRÉDITO

Acquiring

BANIF

Description

a member company of a group composed of varies companies whose main business areas are commercial banking, investment banking, insurance activities, specialised lending and financial and property leasing services.

Acquired

Técnicrédito

Description

holding company of the financial group that includes Banco Mais SA, among other entities; it provides consumer loans and, in particular, car loans.

Sector

Banking, Financial and Insurance activities

Activity (NACE)

K64 - Financial service activities, except insurance and pension funding
K66 - Activities auxiliary to financial services and insurance activities

Applicable legislation

Art. 9(1)(b) (Law 18)

Notification thresholds

Turnover

Type of merger

Horizontal

Cooperation with sector regulators

ASF - Insurance and Pension Fund Supervisory Authority
BdP - Bank of Portugal

Status

Closed

Type of Investigation

Phase 1

AdC’s decision

Non-opposition

Case description

Notified on 21 July 2009, this merger operation consists of the acquisition, by BANIF SGPS SA, of exclusive control of TECNICRÉDITO SGPS SA by means of the acquisition of all the shareholdings representing its registered capital.

Timeline

2009-08-20

COMPETITION AUTHORITY authorises Merger No. 25/2009 - BANIF/TECNICRÉDITO

2009-07-29

Publication of the announcement

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Case details