Decision Nº M/07/045 from Competition and Consumer Protection Commission, 2007-09-18

• Jurisdiction: Ireland
• Parties: CACEIS Fastnet AA,Olympia Capital (Bermuda) Limited,Winchester Global Trust Company Limited,Olympia Capital (Ireland) Limited,Brooke Securities Holding Inc.,Olympia Capital Financial Services, Inc.
• Date: 18 September 2007
• Decision Number: M/07/045
• Status: Cleared (Phase 1)
• Court: Competition and Consumer Protection Commission (Ireland)
• Decision Date: 18 September 2007

Merger Notification No. M/07/045 - CACEIS/ Olympia Capital/ Winchester/ Brooke

DETERMINATION OF MERGER NOTIFICATION M/07/045 –

CACEIS/ Olympia Capital/ Winchester/ Brooke

Section 21 of the Competition Act 2002

Proposed acquisition by CACEIS Fastnet Alternativ e Administration

SAS of Olympia Capital Financial Services Inc., Olympia Capital

(Bermuda) Limited, Winchester Gl obal Trust Company Limited, Brooke

Securities Holdings Inc. and Olympi a Capital (Ireland) Limited.

Dated 18/09/2007

Introduction

1. On 20 August 2007 the Competition Authority (“the Authority”), in

accordance with Section 18(1)of the Competition Act, 2002 (“the Act”)

was notified, on a mandatory basis, of a proposed acquisition by

CACEIS Fastnet Alternative Adm inistration SAS (“ CACEIS Fastnet AA“)

of Olympia Capital F inancial Services Inc. (“OCFS“), Olympia Capital

(Bermuda) Limited (“OC Bermuda“), Winchester Globa l Trust Company

Limited (“Winchester International“)

1

, Brooke Securities Holdings Inc.

(“Brooke“) and Olympia Capital (Ireland) Limit ed (“OC Ireland “).

2. As a result of the propos ed transaction CACEIS Fastnet AA will acqu ire

the entire share capital of OCFS, OC Bermuda, Winchester

International, Brooke and OC Ireland and their res pective subsidiaries.

The Undertakings Involved

The Acquirer

3. The acquirer, CACEIS Fastnet AA is a subsid iary of CACEIS. [.].

4. CACEIS is a full function joint venture under the joint control of Credit

Agricole SA (“CASA”) and NATIXIS SA (“Natixis”).

2

CACEIS offers

custody and depositary, fund administration and corporate trust

services mainly in France and Luxembourg, with a small amou nt of

activity in Switzerland, the Netherlands, Belgium and Ireland. I n

Ireland, CACEIS prov ides both custody and fund administration

services, r espectively through a local b ranch of CACEIS Bank

Luxembourg and its subsidiary Fastnet Ireland .

5. CACEIS’ affiliates, Credit Agricole SA and NATIXIS SA, are universal

banks present in all banking and insurance ac tivities.

6. CASA is the central b ody of the Group Crédit Agricole (“GCA”). G CA is

active in French retail banking; international ba nking; specialised

financial se rvices; asset management, insura nce and private banking;

1

The notification is made by Winch ester Global Trust Company Limited ( “Winchester Global”)

whose assets and business will be contributed to a newly created company, Wi nchester

International Trust Company (“Winchester International”) prior to closing.

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Each of which holds 50 per cent of its shares. Each appoint half of the members of the

supervisory board of CACEIS and have cross-veto rights with regard to the main strategic

decisions relating to the company.