Thursday, 06 February 2014 00:00

Decision 585/2014

Decision on the prior notification of a concentration pursuant to article 6 par. 1 - 3 of law 3959/2011 of the banking company with the name "ALPHA BANK SA", in relation to the acquisition by it of all the contractual relations from opening contracts bank accounts concluded between the credit institution under special liquidation "Cooperative Bank of Dodecanese Co. Ltd." and third parties and the claims of third parties against the "Cooperative Bank of Dodecanese Co. Ltd." arising from time deposit agreements.

Decision 585/2014
File (PDF) Decision 585/2014
Date of Issuance of Decision

February 6th 2014

Issue Number of Government Bulletin
Relevant Market

Retail and Business Banking, Financial Services

Subject of the Decision

Merger

Legal Framework

Phase I (Article 8 par. 3 of  L. 3959/2011)

Operative part of the Decision

Clearance 

Acquiring company(ies)

ALPHA BANK SA

Target company(ies)

COOPERATIVE BANK OF DODECANESE CO. LTD

Summary of Decision

On January 7, 2014, HCC received the prior notification of the merger with which the credit institution under the name "ALPHA Bank SA", parent company of the Group of Companies operating in Greece and abroad for the entire range of financial and investment services, acquires exclusive control of part of the business of the credit cooperative underspecial liquidation "Cooperative Bank of Dodecanese Co. Ltd.", according to article 68 of law 3601/2007. More specifically, ALPHA BANK acquires all the contractual relations from contracts of opening a savings bank account, current account and/or other related accounts, that were drawn up between the credit cooperative and third parties up to the position of the above credit cooperative in liquidation, as well as the claims of third parties against it arising from futures contractsdeposits, which were drawn up until its liquidation, for the payment of capital and accrued interest until the revocation of its license as well as the obligation to pay taxes on accrued interest

The business activities of the credit institution under the name "ALPHA Bank SA" and of the above credit cooperative until its liquidation were the provision of banking services, in particular the acceptance of deposits and lending, as well as the provision of stock exchange, investment and insurance services. The present concentration refers to the traditional banking sector and includes a) retail banking services, b) corporate banking services, andc) financial services (financial market services), and each of the above markets can be further distinguished into sub-markets, based on the substitutability of individual banking products in terms of supply and demand.

The competent Chamber of the Hellenic Competition Committee, unanimously approves according to article 8 par. 3 law 3959/2011, the notified concentration according to article 6 par. 1 etseq. of Law 3959/2011 resulting from the transfer from the credit institution “Cooperative Bank of Dodecanese Co.Ltd.” at the credit institution under the name "ALPHA BANK SA" all contractual bank account relationships established between the DODECANESE credit cooperative and third parties and all claims of third parties against the DODECANESE arising from time deposit agreements.

Judicial Means  Final. No judicial proceedings.
Decisions by the Court of Appeal of Athens (Administrative Division) -
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