Press Release: Mergers: Commission approves acquisition of stakes in Dutch wholesale clothing company HVEG by ABN AMRO and Rabobank

The European Commission has cleared under the EU Merger Regulation the proposed acquisition by the Dutch banks ABN AMRO and Rabobank of controlling stakes in HVEG, a Dutch wholesale company specialized in clothing and accessories. HVEG is currently controlled by Vecelia which is itself a holding company for a private individual. Vecelia will exercise joint control over HVEG along with the two Dutch banks after the transaction. The Commission's investigation confirmed that the operation would not raise competition concerns because it would not significantly alter the market structure.