COMMISSION DECISION of 05/05/1999 declaring a concentration to be compatible with the common market (Case No IV/M.1479 - THOMSON/BANCO ZARAGOZANO/CAJA MADRID/INDRA) according to Council Regulation (EEC) No 4064/89 (Only the English text is authentic)

What COMMISSION DECISION of 05/05/1999 declaring a concentration to be compatible with the common market (Case No IV/M.1479 - THOMSON/BANCO ZARAGOZANO/CAJA MADRID/INDRA) according to Council Regulation (EEC) No 4064/89 (Only the English text is authentic) requires

On 31 March 1999, the Commission received a notification of a proposed concentration pursuant to Article 4 of Council Regulation (EEC) No 4064/89 by which the undertakings Thomson-CSF, Caja de Ahorros y Monte de Piedad de Madrid (Caja Madrid), and Banco Zaragozano acquire within the meaning of Article 3(1)(b) of the Council Regulation joint control of Indra Sistemas SA. The operation takes place in the context of the privatisation of Indra, following which the Spanish State ceased to have any participation in Indra. Thomson, Caja Madrid, and Banco Zaragozano agreed to coordinate their conduct in respect of important decisions at the Shareholders Meeting and at the Board of Directors of Indra, subject to unanimous approval of the notifying parties, relating inter alia to the appointment of members of the board of directors, the definition of the general strategy, and the approval of the business plans and annual budgets. After examination of the notification, the Commission concluded that the notified operation falls within the scope of Council Regulation (EEC) No 4064/89 and does not raise serious doubts as to its compatibility with the common market and with the EEA Agreement. The combined aggregate worldwide turnover of the parties exceeds EUR 5 billion, satisfying the Community dimension threshold. The Commission found that the proposed concentration does not create or strengthen a dominant position as a result of which effective competition would be significantly impeded in the EEA or any substantial part of that area, and accordingly decided not to oppose the notified operation, declaring it compatible with the common market and with the EEA Agreement under Article 6(1)(b) of Council Regulation (EEC) No 4064/89.

Pillar: Legal & IP Sovereignty · Authority: Commission of the European Communities · Version: 1.0.0 · Last updated: 1999-05-05

Primary source: https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:31999M1479

SHA-256 integrity: 3e313ddda8b8bc572100a02ca13bc6a0b1e555a5140c44f5c43228a2182cf7b6

Primary Citations — 8 traced to source

• Paragraph 1: 'On 31.03.1999, the Commission received a notification of a proposed concentration pursuant to Article 4 of Council Regulation (EEC) No 4064/89 by which the undertakings Thomson-CSF ("Thomson"), Caja de Ahorros y Monte de Piedad de Madrid ("Caja Madrid") and Banco Zaragozano acquire within the meaning of Article 3(1)(b) of the Council Regulation joint control of Indra Sistemas SA ("Indra").'
• Paragraph 2: 'After examination of the notification, the Commission has concluded that the notified operation falls within the scope of Council Regulation (EEC) No 4064/89 and does not raise serious doubts as to its compatibility with the common market and with the EEA Agreement.'

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