COMPETITION COUNCIL CLEARS ACQUISITION OF DANSKE BANK A/S LIETUVOS FILIALAS BY AB SWEDBANK AND UAB SWEDBANK LIZINGAS

The Competition Council cleared the acquisition of part of the assets, rights and obligations of Danske Bank A/S Lietuvos filialas by AB Swedbank and UAB Swedbank lizingas.

Having received merger clearance, AB Swedbank can acquire part of the assets, rights and obligations of Danske Bank A/S Lietuvos filialas related to the provision of retail banking services. UAB Swedbank lizingas can in turn acquire part of the assets, rights and obligations of Danske related to the leasing services of vehicles provided to natural persons.

AB Swedbank  mainly provides retail and business banking services.

UAB Swedbank lizingas provides leasing and factoring services.

Danske Bank A/S Lietuvos filialas provides retail banking and light vehicle leasing services to natural persons.

Having evaluated all the circumstances related to the merger, the Council acknowledged that the intended merger will not create or strengthen the dominant position, or significantly restrict competition in the relevant markets since part of the assets, rights and obligations transferred by Danske Bank A/S Lietuvos filialas is not considered significant in the examined relevant markets.