Merger Notification - Announcement according to § 10 Cartel Act
LGT Bank AG; UBS Europe SE Niederlassung Österreich
On 18.12.2020 the following merger was notified at the Federal Competition Authority:
Planned purchase process
The LGT Group Foundation (Vaduz/Liechtenstein) intedns to acquire through LGT Bank AG (Vaduz/Liechtenstein) certain assets concerning wealth management in Austria from UBS Europe SE (Frankfurt/Germany).
LGT Group Foundation is directly solely controlled by the Prince of Liechtenstein Foundation, the beneficiary of which is H.S.H. Reigning Prince Hans-Adam II von und zu Liechtenstein.
The intended concentration concerns private banking.
Affected business areas: Financial Services.
Industry sector: K - Erbringung von Finanz- und Versicherungsdienstleistungen
Deadline for bringing in an application pursuant to § 11(1) Cartel Act will end on 15.01.2021.
Entrepreneurs whose legal or economic interests are affected by the merger can bring in a written statement at the Federal Competition Authority or the Federal Cartel Prosecutor within 14 days from publication date.
Note: The intervening party has no right to a certain treatment of the statement and will not gain a party position.
Non-prohibition of the merger
The Federal Competition Authority and the Federal Cartel Prosecutor have not applied for examination of the merger by the Cartel Court. The standstill obligation (§ 17 (1) Cartel Act) ends with effect from 16.01.2021 .