Acquirer(s)
- Fuji Bank Ltd
Target(s)
- Dai-Ichi Kangyo Bank Ltd
Summary
On 21 Feb 2002, APRA informed the Commission of a propsed merger between Dai-Ichi Kangyo Bank Ltd and Fuji Bank Ltd planned for 1 April 2002Competition analysis
The transfer of business involves the Sydney branches of these two Banks. It is the direct result of a global merger between these financial institutions and the Industrial Bank of Japan, to form the Mizuho Holdings Corporate Bank.In Australia, DKB provides corporate banking services, project finance and business advice to companies wishing to enter the Japanese market to establish representative offices and branches or identify joint venture partners or acquisition targets. Fuji Bank established Australian operations in December 2001.
The Commission concluded that there appears to be no competitive overlap between DKB and Fuji Bank and therefore, a substantial lessening of competition is unlikely to occur.
Merger type
Horizontal
Guidelines thresholds
Unknown
Imports above 10%
Unknown
Initiation
Other
ANZSIC code
7321