25/09/2009 (Agence Europe) - On Friday 25 September 2009, the European Commission authorised the acquisition of joint control of Piraeus Wealth Management AEPEY of Greece (Greek JV) and Piraeus Wealth Management SA of Switzerland (Swiss JV) by way of purchase of shares in a newly created company constituting a joint venture by Piraeus Bank SA of Greece and BNP Paribas SA (BNPP) of France. Piraeus Bank will be dedicated to domestic wealth management services in Greece. Greek JV will combine the wealth management activities in Greece carried out respectively in the Piraeus Bank Wealth Management division and in the BNPP Wealth Management Greek branch. Swiss JV will offer international wealth management services, in particular to Greek investors. In the second deal authorised by the Commission on the same day, French insurance company Predica (wholly owned by Crédit Agricole) and SFL (an asset management company) are acquiring joint control of Parholding of France, a real estate rental company. All the companies involved in the deal are covered by French law. Along with the Piraeus joint venture, this deal was examined using the simplified merger review procedure. (C.D./transl.fl)