Official Journal of the European Union

C 20/10

Prior notification of a concentration

(Case M.10095 — Crédit Agricole Italia/Credito Valtellinese)

Candidate case for simplified procedure

(Text with EEA relevance)

(2021/C 20/09)


On 12 January 2021, the Commission received notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) No 139/2004 (1).

This notification concerns the following undertakings:

Crédit Agricole Italia S.p.A. (‘CAI’, Italy), belonging to the Crédit Agricole Group (France),

Banca Piccolo Credito Valtellinese S.p.A (‘CreVal’, Italy)

CAI acquires within the meaning of Article 3(1)(b) of the Merger Regulation control of the whole of CreVal.

The concentration is accomplished by way of public bid announced on 23 November 2020.


The business activities of the undertakings concerned are:

for CAI: banking and insurance services in Italy,

for the Crédit Agricole Group: a wide range of banking and financial services offered in all sectors of retail banking and related financial activities such as insurance, asset management, leasing, factoring, investment banking and consumer credit,

for CreVal: retail banking sector in Italy.


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.

Pursuant to the Commission Notice on a simplified procedure for treatment of certain concentrations under the Council Regulation (EC) No 139/2004 (2) it should be noted that this case is a candidate for treatment under the procedure set out in the Notice.


The Commission invites interested third parties to submit their possible observations on the proposed operation to the Commission.

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

M.10095 — Crédit Agricole Italia/Credito Valtellinese

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:

European Commission

Directorate-General for Competition

Merger Registry

1049 Bruxelles/Brussel


(1)  OJ L 24, 29.1.2004, p. 1 (the ‘Merger Regulation’).

(2)  OJ C 366, 14.12.2013, p. 5.