{"id":251535,"date":"2024-06-12T07:18:53","date_gmt":"2024-06-12T07:18:53","guid":{"rendered":"https:\/\/armbanks.am\/2024\/06\/12\/251535\/"},"modified":"2024-06-12T07:18:53","modified_gmt":"2024-06-12T07:18:53","slug":"competition-protection-commission-authorises-merger-of-ardshinbank-and-hsbc-bank-armenia","status":"publish","type":"post","link":"https:\/\/armbanks.am\/en\/2024\/06\/12\/251535\/","title":{"rendered":"Competition Protection Commission authorises merger of Ardshinbank and HSBC Bank Armenia"},"content":{"rendered":"\n<p><strong>YEREVAN, 12 June. \/ARKA\/.<\/strong> Armenia&#8217;s Commission for Protection of Competition CPC) by its decision dated 6 June allowed the merger of Ardshinbank CJSC and HSBC Bank Armenia CJSC, having concluded that it will not lead to restriction of competition and violation of consumer rights.<\/p>\n\n\n\n<p>A statement on the CPC website says that based on the applications filed by the companies on 27 March this year, merger evaluation proceedings were initiated.<\/p>\n\n\n\n<p>\u2018The parties agreed that Ardshinbank CJSC will acquire 100% of HSBC Europe B.V.\u2019s stake in the authorised capital of HSBC Bank Armenia CJSC,\u2019 the statement said.<\/p>\n\n\n\n<p>On 6 February this year, Ardshinbank announced that it had reached an agreement with HSBC Europe B.V., a subsidiary of HSBC Holdings plc, to acquire its subsidiary HSBC Bank Armenia.<\/p>\n\n\n\n<p>It was said that the merger is aimed at increasing its high quality client base and highly skilled team of client managers and employees.<\/p>\n\n\n\n<p>In turn, HSBC Bank Armenia said that the decision was made in order to reallocate capital in global directions.<\/p>\n\n\n\n<p>The transaction is subject to regulatory and antitrust approval and is expected to be finalised within the next 12 months. -0-<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Armenia&#8217;s Commission for Protection of Competition CPC) by its decision dated 6 June allowed the merger of Ardshinbank CJSC and HSBC Bank Armenia CJSC, having concluded that it will not lead to restriction of competition and violation of consumer rights.<\/p>\n","protected":false},"author":1,"featured_media":206856,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","tstyn_error":""},"categories":[9214,9216],"tags":[],"class_list":{"0":"post-251535","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-banks-en-en","8":"category-news"},"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/251535","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/comments?post=251535"}],"version-history":[{"count":0,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/251535\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media\/206856"}],"wp:attachment":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media?parent=251535"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/categories?post=251535"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/tags?post=251535"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}