Brussels, 17 June 2024
The European Commission has approved, under the EU Merger Regulation, the acquisition of sole control of VeloBank S.A. of Poland by funds and accounts managed by Cerberus Capital Management, L.P. and its affiliates (‘Cerberus’) of the US.
The transaction relates primarily to the financial sector.
The Commission concluded that the notified transaction would not raise competition concerns, given the companies’ limited market positions resulting from the proposed transaction. The notified transaction was examined under the simplified merger review procedure.
More information is available on the Commission’s competition website, in the public case register under the case number M.11522.