PT
Autoridade da Concorrência

Case details

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Merger control
Case reference
CCENT/2010/39 - Montepio Geral / Finibanco
Acquired
Finibanco - Holding, SGPS, S.A., Sociedade Aberta
Description
a holding company of the Finibanco Group, which carries out its activities in various aspects of the banking business and, especially, in retail banking. It also operates in the field of asset management, particularly investment portfolios and funds, and insurance.
Acquiring
Montepio Geral - Associação Mutualista, Instituição Particular de Solidariedade Social
Description
a private institution with charity status, whose purpose is to carry out social protection activities and promote its associates’ cultural development and quality of life. This institution carries out its business activity, in particular, in the banking sector, with a special focus on retail banking, in the area of insurance, and in asset management and investment and pension fund management.
Sector
  • Banking, Financial and Insurance activities
Activity (NACE)
  • K6492 - Other credit granting
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
  • CMVM - Securities Market Commission
Status
Closed
Type of Investigation
Phase 1
AdC’s decision
Non-opposition
Case description
Notified on 10 August 2010, this merger operation consists of the acquisition by Montepio Geral - Associação Mutualista, Instituição Particular de Solidariedade Social ("Montepio") of exclusive control of the undertaking Finibanco - Holding SGPS SA, Sociedade Aberta ("Finibanco").
Timeline
2010-10-22
Competition Authority Council adopts a decision of non-opposition to merger operation 39/2010 - Montepio Geral / Finibanco.
2010-09-09
Publication of the announcement - Montepio Geral - Associação Mutualista, Instituição Particular de Solidariedade Social ("Montepio") notifies acquisition of exclusive control of the undertaking Finibanco - Holding SGPS SA, Sociedade Aberta ("Finibanco").
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