The Italian Competition Authority clears the acquisition of 40% of a Spanish company active in the fishing, production, and sale of canned fish by Italian rival, notwithstanding the high market shares reached by the parties in the relevant markets (Bolton / Calvo)

The notified transaction On 20 April 2012, Bolton Group International S.r.l. (hereinafter also “Bolton”), a world player in the production and marketing of a wide range of consumer products and the first operator in the Italian markets for canned tuna and salmon operating through “Rio Mare”, “Palmera” and “Alco” brands, notified to the Italian Competition Authority (Autorità Garante della Concorrenza e del Mercato, “AGCM”) a transaction consisting in the acquisition of 40% of its Spanish rival, Luis Calvo Sanz S.A. (hereinafter also “Calvo”), which is controlled by the Calvo family and has a primary position in the Italian markets for canned fish, operating through the “Nostromo” brand (the “Transaction”). On the basis of the Shareholders’ agreement, the parties agreed to grant relevant veto rights

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Stefania Amoruso, The Italian Competition Authority clears the acquisition of 40% of a Spanish company active in the fishing, production, and sale of canned fish by Italian rival, notwithstanding the high market shares reached by the parties in the relevant markets (Bolton / Calvo), 6 September 2012, e-Competitions September 2012, Art. N° 60144

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