Mergers: Commission clears joint venture between the Erste Group Bank and Global Payments in the Czech Republic, Romania and Slovakia
European Commission - Daily News
Brussels, 20 April 2016
The European Commission has approved under the EU Merger Regulation the creation of a joint venture between the Erste Group Bank AG of Austria, a provider of banking, financial services and payment card services in Central and Eastern Europe, and Global Payments of the United States.
Global Payments provides card payment processing services in the European Economic Area and globally. The joint venture will provide merchant acquiring services in the Czech Republic, Romania and Slovakia. It will also combine the companies' activities in merchant acquiring for international cards in the Czech Republic.
The Commission concluded that the transaction would raise no competition concerns given the limited presence of Global Payments in this market. Likewise, no concerns were identified for the provision of payment processing services by Global Payments in the Czech Republic. This is because Global Payments will not have the ability to prevent competitors of the joint venture from accessing these services, given that many alternative solutions to Global Payments exist in the Czech Republic.
More information is available on the Commission's competition website, in the public case register under the case number M.7950. (For more information: Ricardo Cardoso – Tel.: +32 229 80100; Yizhou Ren – Tel.: +32 229 94889)
Source: Europa.eu (Copyright European Commission)