1.   

This notification concerns the following undertakings:

BNPP’s and CACEIS’ corporate trust services in France will be combined under a new entity, and BNPP and CACEIS will acquire within the meaning of Article 3(1)(b) and 3(4) of the Merger Regulation joint control of the newly created entity.

The concentration is accomplished by way of purchase of shares in a newly created company constituting a joint venture.

2.   

3.   

The newly created company constituting a joint venture will be active in the provision of corporate trust services in France. Corporate trust services pertain to the management of a company’s share capital (whether the company is publicly listed or not) and its debt (management of the registry of investors, of general meetings and of transactions on securities and related financial services, as well as the provision of services regarding direct employee shareholding).

4.   

On preliminary examination, the Commission finds that the notified transaction could fall within the scope of the Merger Regulation. However, the final decision on this point is reserved.

5.   

Observations must reach the Commission not later than 10 days following the date of this publication. The following reference should always be specified:

M.10786 – BNP PARIBAS / CACEIS / JV

Observations can be sent to the Commission by email, by fax, or by post. Please use the contact details below:

Email: COMP-MERGER-REGISTRY@ec.europa.eu

Fax +32 22964301

Postal address: