On Tuesday 6 December 2022, the European Commission approved the acquisition of joint control of i-Hub SA by five Luxembourg-based entities: POST Luxembourg (POST), BGL BNP Paribas (BGL), Banque et Caisse d'Epargne of the State (BCEE), Banque Internationale à Luxembourg (BIL) and Banque de Luxembourg (BDL).
i-Hub is a provider of compliance support services, which consists of helping, through its data storage platform, companies that carry out checks to comply with their anti-corruption and money laundering investigations. POST is a provider of postal services, information and communication technologies and banking services in Luxembourg. BGL, BCE and BDL are credit institutions in Luxembourg. BIL is a private banking group that operates in Luxembourg.
The Commission concluded that the proposed acquisition would not raise competition concerns given its very limited impact on the structure of the market. The transaction was reviewed under the simplified merger control procedure.
Further information is available on the Commission's competition website and in the public case register under case number M.10930.
