The Competition Commission of Singapore clears an acquisition and concludes that a non-solicitation restriction included as part of the merger notification did not amount to ancillary restrictions to the notified acquisition (Cebu Air, SEAir)

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Competition Commission of Singapor, Cebu Air, SEAir, CCS 400/005/14, 20 August 2014

On 20 August 2014, the Competition Commission of Singapore (the “CCS”) issued its grounds of decision clearing the completed acquisition by Cebu Air, Inc. (“Cebu”), of Southeast Asian Airlines (SEAir), Inc. (“SEAir”) (the “Decision”). The CCS, however, concluded that the Strategic Alliance Agreement (the “SAA”) and a non-solicitation restriction included as part of the merger notification did not amount to ancillary restrictions to the notified acquisition. The Decision marks the first merger decision issued by the CCS in over 18 months, since its clearance decision in respect of the proposed acquisition of Elpida Memory, Inc. by Micron Technology, Inc. of 30 January 2013 (CCS/ 400/009/12). Background On 20 March 2014, Cebu completed its acquisition of 100 per cent. of the shares of SEAir. On

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Kirstie Nicholson, The Competition Commission of Singapore clears an acquisition and concludes that a non-solicitation restriction included as part of the merger notification did not amount to ancillary restrictions to the notified acquisition (Cebu Air, SEAir), 20 August 2014, e-Competitions August 2014, Art. N° 69296

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