On 22nd May 2008, the Commission received a notification of a proposed concentration by which the undertaking Sofinco SA (‘Sofinco’, France), a wholly owned subsidiary of Crédit Agricole SA (‘CA’, France), and Saracen HoldCo AB (‘Saracen’, Sweden), a wholly owned subsidiary of FCE Bank plc controlled by Ford Motor Company, acquire joint control of the undertaking Forso Nordic AB (‘Forso’, Sweden) by way of purchase of shares in a newly created company constituting a joint venture.

• Sofinco: Sofinco holds a dominant position in all areas of consumer credit: direct sales, point-of-sale finance (household goods, vehicle and watersports markets), partnerships. The company has built up partnerships with the big retail brands and institutions. As a subsidiary of Crédit Agricole S.A., we share our skills with the Group’s banking networks to build up their consumer credit business.
• CA: Crédit Agricole SA is an economic entity which specialises in banking, private banking, financial services, life and non-life insurances.
• Saracen: Holding company of Ford Motor Company, which manufactures and distributes motor vehicles.
• Forso: Financing and administrative services.

The Commission invites interested third parties to submit their possible observations on the proposed operation to the Commission.  Observations must reach the Commission not later than 12th of June 2008 to:

European Commission
Directorate-General for Competition
Merger Registry
J-70
B-1049 Bruxelles/Brussel

or fax ((32-2) 296 43 01 or 296 72 44)