The Spanish National Competition Commission fines companies for gun jumping based on an unprecedentedly broad concept of control (Gestamp/ Essa Bonmor)

On January 30, 2012, the Spanish Competition Commission (Comisión Nacional de la Competencia, “CNC”) imposed fines of €124.400 on two groups in the automotive components sector, Gestamp and Estampaciones Sabadell, for allegedly executing a notifiable concentration without authorization. The CNC decision found that Gestamp to have acquired control based on a right to approve the formulation of its annual accounts, a right to approve future financial indebtedness and a decision to change the manager of the company. Background The transaction in question was the planned acquisition by the Gestamp group of a joint controlling stake, in Essa Palau, a company dedicated to the design, development and manufacture of flat metal components for the automotive industry which had previously been

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Authors

  • Cuatrecasas, Goncalves Pereira (Madrid)
  • Cuatrecasas, Goncalves Pereira (Barcelone)

Quotation

Andrew Ward, Javier Arana Rodríguez, The Spanish National Competition Commission fines companies for gun jumping based on an unprecedentedly broad concept of control (Gestamp/ Essa Bonmor), 30 January 2012, e-Competitions Bulletin January 2012, Art. N° 48621

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