The operation The operation consisted of the acquisition by Mahou of 100% of the shares of Enterprise Resource Planning, the mother company of San Miguel. Mahou and San Miguel were two of the main beer manufacturers in the Spanish market (combined market share of about 35%). The Spanish competition authority blocked the merger in Phase II. The CM subsequently decided to reverse this ruling and approved the operation with conditions. The market(s) concerned by remedy(ies) The TDC defined two different product markets for the sale of beer in groceries (hypermarkets, supermarkets, convenience stores, etc.), and in hospitality premises (hotels, pubs, restaurants, etc.). Both markets were considered national in
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The Spanish Council of Ministers overturns a decision of the Spanish Competition Authority, and allows a merger in the beer market subject to remedies (Mahou / San Miguel)
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