Annex X: Acquisition ban

The acquisition ban applied to “any financial institutions or other businesses in actual or potential competition with BAWAG”.

“The Belgian authorities commit that KBC will refrain from acquiring control of financial institutions. KBC will moreover refrain from acquiring control of businesses other than financial institutions if such an acquisition would slow down the repayment of state aid.”

“Ethias commits not to acquire more than 5% of the capital of other credit institutions or investment firms.”

“BNP Paribas is firmly committed, for a period of four years, not to acquire control of other credit institutions or investment companies (within the meaning of Directive 2004/ 39/EC of 21 April 2004 on markets in financial instruments) that have their registered office, a subsidiary or a branch in Belgium or Luxembourg and have substantial operations there.”

The acquisition ban applied to “any acquisition of more than 5% of the share capital of other credit institutions or investment firms or insurance companies”.

“Il ne prendra aucune participation dans une entreprise, que ce soit par cession d’actifs ou par transfert d’actions, sauf dans le cadre des opérations de simplification juridique et de centralisation de la gouvernance strictement prévues dans le plan de résolution ordonnée”.

The acquisition ban applied to “any finance institutions or other businesses in potential competition with Commerzbank”.

The acquisition ban applied to “any purchases of financial institutions in competition with LBBW”.

There will be no expansion of business activities through the acquisition of control over other firms with a sales price of more than EUR [0-2 million] without the Commission’s approval (‘no external growth’).

“Sparkasse KölnBonn is not to acquire more than 20% of the shares in other financial institutions during a period of three years. Other participation transactions that are not related to Sparkasse KölnBonn’s original customer business in its business model may still be carried out, provided they do not jeopardise the Sparkasse’s viability and have been approved by the European Commission. In addition, Sparkasse KölnBonn is to refrain from acquiring participations that are not necessary for its core business, or that entail excessive risks.”

The acquisition ban applied to stakes of more than 5%.

The acquisition ban applied to “i) any financial institution; ii) any acquisition that would alter the bank’s business model”.

The acquisition ban applied to “i) any financial institution; ii) any acquisition that would alter the bank’s business model”.

The acquisition ban applied to acquisitions of financial institutions and any other acquisitions of businesses that would slow down the repayment of the state aid.

The ban applied to acquisitions of stakes of 20% or more.

Acquisitions that must be made in order to maintain financial and/or association related stability, or in the interests of effective competition, had to be approved beforehand by the Monitoring Trustee.

The acquisition ban applied to “i) any financial institution, ii) any other acquisition whose purpose is to expand the bank’s activities outside of its business model”.

The acquisition ban applied to “i) any financial institution, ii) any other acquisition whose purpose is to expand the bank’s activities outside of its business model”.