Brussels, 19/12/2006 (Agence Europe) - On 15 December, the European Commission approved the proposed acquisition of Berliner Bank AG & KG of Germany by Deutsche Bank AG, also of Germany by way of purchase of shares. The sale of Berliner bank was initiated by a Commission decision under EC Treaty state aid rules regarding Bankgesellschaft Berlin (now Landesbank Berlin Holding AG). The decision required, among other things, that its subsidiary Landesbank Berlin get rid of the division which became Berliner bank.
The Commission found that the proposed transaction would lead only to limited overlaps in retail banking and corporate banking services, including areas such as deposits and account services. The parties will only have limited market shares in all markets concerned and will face competition from a number of strong competitors such as Berliner Sparkasse, Berliner Volksbank, Commerzbank, Dresdner Bank and Postbank. The Commission concluded, therefore, that the proposed transaction would not lead to competition concerns. (cd)