Case details

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Merger control
Case reference
Ccent/2024/9 - Abanca / EuroBic
Acquiring
Abanca Corporación Bancaria, S.A. (Sede)
Description
Public limited company under Spanish law based in A Coruña and present in Portugal and other countries around the world which, being a credit institution, has a corporate purpose that includes carrying out all activities, operations and services typical of banking activity in general, as well as those that are directly or indirectly related to it. The main activity focuses on retail banking with 44 branches in Portugal, complemented by digital solutions (mobile banking) and 26 agents, totaling around 70 points of sale in the country.
Acquired
BANCO BIC PORTUGUÊS, S.A. - (EuroBic)
Description
Portuguese credit institution, which offers diversified financial services to private and corporate clients with a shareholder structure made up of a variety of entities and individuals, with Santoro Financial Holding SGPS, S.A. being the largest shareholder, with 25% of the share capital. Its activity is aimed at both private and corporate clients, offering a portfolio of financial services adjusted to the needs and specificities of each client segment, integrating around 200 business units.
Sector
Activity (NACE)
Applicable legislation
Notification thresholds
Type of merger
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

The merger operation consists of the acquisition, by Abanca Corporación Bancaria, S.A. (“Abanca”), of exclusive control over Banco BIC Português, S.A. (“EuroBic”), through the acquisition of its entire share capital and respective voting rights.

Timeline
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