# Commission Decision of 18 November 2009 on the State aid C 18/09 (ex N 360/09) implemented by Belgium for KBC (notified under document C(2009) 8980) (Only the English text is authentic) (Text with EEA relevance) (2010/396/EC), Division (iv)

Extent: E+W+S+N.I.

With regard to a ban on acquisitions, the Belgian authorities commit that KBC will refrain from acquiring control, as defined by Regulation (EC) No 139/2004 of 20 January 2004 on the control of concentrations between undertakings (the EC Merger Regulation), 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 the amount of EUR 7 billion of core Tier-1 Yield Enhanced securities to the Belgian authorities as planned in the restructuring plan that was notified to the Commission on 30 September 2009 and approved by this Decision. Notwithstanding that prohibition, KBC may acquire businesses if it obtains the Commission’s approval, in particular if it is considered essential to safeguard financial stability or competition in the relevant markets.

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Source: https://www.legislation.gov.uk/eudn/2010/396/annex/division/1/division/iv (the official version)
Page: https://openlegislation.uk/eu-decision-2010-396/annex/division-1/division-iv
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.