Decision Nº M/10/016 from Competition and Consumer Protection Commission, 2010-06-04

Decision NumberM/10/016
PartiesRoyal Bank of Scotland Group PLC,Priory Investments Holdings Limited
StatusCleared (Phase 1)
Merger Notification No. M/10/016 – RBS Group Plc/Priory Investments
DETERMINATION OF MERGER NOTIFICATION M/10/016 -
RBS Group Plc/Priory Investments
Section 21 of the Competition Act 2002
Proposed acquisition by RBS Group Plc of Priory Investments Hol dings
Limited and its subsidiaries.
Dated 04 June 2010
Introduction
1. On 21 May 2010, in accordance with section 18 of the Competit ion Act
2002 (the “Act”), the Competition Authority (the “Autho rity”) received
a notification of a p roposed transaction whereby The Royal Bank of
Scotland Group Plc (“RBS”) would acquire sole control of Priory
Investments Holdings Limited (“PIHL”) and its subsidiaries. Currently,
PIHL is jointly controlled by Global Health Partner Limited (“GHP”)
1
,
Coburg Business Corp (“Coburg”)
2
and RBS
3
.
The Undertakings Involved
The Acquirer
2. RBS is the holding company of a global banking and financial services
group, listed on the London Stock Exchange and headquartered in
Edinburgh, Scotla nd, United Kingdom (“U.K.”). RBS operates through
two principal s ubsidiaries, the Royal Bank of Scotland a nd NatWest.
RBS’s business divisions include: global & bank ing markets, U.K. reta il,
U.K. corporate, RBS retail & commercial banking, Europe & Middle
East, RBS insurance, citizens financial gro up and business services.
3. RBS operates in the State through its wh olly owned subsidiary, Ulster
Bank Group. Ulster Bank Group has 146 b ranches in the State, which
provide retail banking services
4
and foreign exchange s ervices. For the
year ending 31 December 2009 , RBS generated a turnover in the State
of approximately €[…].
1
GHP is a healthcare company headquarte red in Stockholm, Sweden. GHP
operates a number of healthcare clinics in Eur ope specialising in spine
surgery, specialist dentistry, bariatrics (obesity treatment and surgery) and
orthopaedics.
2
Coburg is a non-trading company incorporated in the British Virgin Islands
whose sole investments are shares and loan notes issued by PIHL and Priory
New Investments Ltd.
3
GHP and Coburg, due to common interests , exercise their control of PIHL
together.
4
Retail Banking services include the provision of loans, mortgages and
savings schemes to the general public. Ulste r Bank Group also operates a
corporate markets division which provides serv ices to business customers,
corporate and institutional markets.

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