The European Commission has formally cleared the proposed acquisition of joint control over Erste Card d.o.o., a Croatian payment services provider, by Global Payments Inc. (United States) and Erste Group Bank AG (“Erste Holding”, Austria). The decision was issued under the EU Merger Regulation.
The transaction concerns primarily the payment services sector, in which both acquiring companies are active. Following its assessment, the Commission concluded that the deal would not give rise to competition concerns. According to the decision, the parties’ combined market positions will remain limited and do not threaten to significantly impede effective competition within the European Economic Area.
Given the absence of horizontal or vertical issues, the case was reviewed under the Commission’s simplified merger review procedure, which applies to transactions that clearly do not pose competition risks.
Additional information on the decision is available on the European Commission’s competition website, within the public case register under case number M.12132.