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Brussels, 29 th January 2010

Mergers: Commission approves proposed acquisition of Sal. Oppenheim by Deutsche Bank

The European Commission has cleared under the EU Merger Regulation the proposed acquisition of the banking group Sal. Oppenheim by Deutsche Bank, both of Germany. After examining the operation, the Commission concluded that the transaction would not significantly impede effective competition in the European Economic Area (EEA) or any substantial part of it.

Deutsche Bank is a globally operating banking group active in retail banking, investment management and services and corporate and investment banking. Sal. Oppenheim is a financial services group with activities in banking and related services, in particular asset management for wealthy individuals (private banking) and institutional investors. Sal. Oppenheim's focus of activity is Germany.

The Commission’s examination of the proposed transaction showed that the horizontal overlaps between the activities of Deutsche Bank and Sal. Oppenheim, such as the distribution of mutual funds and the provision of private banking services, are limited and that, for all products and services concerned, the merged entity would continue to face effective competition.

More information on the case will be available at:

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