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ARTICLE · 01 DECEMBER 1998

Royale Belge in Belgium acquires Anhyp Bank

Sundström Rieser & Cie/Nordic Law Offices
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BelgiumAntitrust/Competition Law
The transaction by which Royale Belge, part of the group AXA_UAP has acquired sole control of Anhyp Bank has been approved by the European Commission. The companies involved are operating in Belgium and in Luxembourg mainly. Royale Belge is in the insurance sector but has since a few years also a presence in the banking sector via its subsidiary IPPA, Anhyp Bank. There are apparently some overlaps between the parties' activities in the banking area, but from the Commission's point of view the market shares remain rather low and does not give rise to competition concerns.

Royale Belge is owned by AXA-UAP group and is active in banking, insurance and financial services. The worldwide turnover was 58.140 million ECU in 1997.

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