32018M8901

EUROPEAN COMMISSION

Brussels, 19.6.2018/

C(2018) 3966 final

To the notifying parties:

Subject:Case M.8901 - HSBC / GLOBAL PAYMENTS
Commission decision pursuant to Article 6(1)(b) of Council Regulation (EC) No 139/2004 1 and Article 57 of the Agreement on the European Economic Area 2

Dear Sir or Madam,

1.On 28 May 2018, the European Commission received notification of a proposed concentration pursuant to Article 4 of the Merger Regulation by which HSBC Holdings plc. (“HSBC”, UK) and Global Payments Inc. (“GP”, USA) acquire within the meaning of Article 3(1)(b) and 3(4) of the Merger Regulation joint control of the whole of Joint Venture ("JV", Mexico) by way of purchase of shares in a newly created company constituting a joint venture. 3

2.The business activities of the undertakings concerned are:

-for HSBC: provision of retail banking, commercial banking, insurance, asset management and global liquidity as well as cash management products,

-for GP: provision of services relating to card payment processing, and

-for JV: provision of merchant acquiring services in Mexico.

3.After examination of the notification, the European Commission has concluded that the notified operation falls within the scope of the Merger Regulation and of paragraph 5(a) of the Commission Notice on a simplified procedure for treatment of certain concentrations under Council Regulation (EC) No 139/2004. 4

4.For the reasons set out in the Notice on a simplified procedure, the European Commission has decided not to oppose the notified operation and to declare it compatible with the internal market and with the EEA Agreement. This decision is adopted in application of Article 6(1)(b) of the Merger Regulation and Article 57 of the EEA Agreement.

For the Commission

(Signed)
Johannes LAITENBERGER
Director-General