European Commission 14 September 2017, Commission Decision of 14/09/2017 declaring a concentration to be compatible with the common market (Case No COMP/M.8414 - DNB / NORDEA / LUMINOR GROUP) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

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The European Commission has approved the creation of Luminor Group, a joint venture combining the Estonian, Latvian, and Lithuanian banking operations of DNB Bank ASA and Nordea Bank AB, pursuant to Article 6(1)(b) of the Merger Regulation. The Commission determined that the transaction does not raise serious doubts regarding compatibility with the internal market, as the merged entity will continue to face significant competition from other Nordic-based universal banks and local players across all affected retail and corporate banking segments. The assessment concluded that the operation would not result in significant non-coordinated, coordinated, or spill-over effects within the Baltic States.AI