On 12 April 2022, the French Competition Authority ('FCA') issued a 7 million euro fine to Cofepp for the acquisition of control over Marie Brizard Wine & Spirits ('MBWS') before notifying the concentration to the FCA (failure to notify) and a fortiori without waiting for the FCA's clearance decision (breach of the standstill obligation or 'gun jumping'). Key takeaways This case is a stark reminder that parties to a concentration which meets the French notification thresholds must comply with both the obligation to notify the proposed transaction to the FCA and wait for the FCA's clearance before implementing the transaction.Failure to notify and subsequent implementation of a transaction before the FCA's
Share on
|
|
The French Competition Authority fines a wine and spirits company €7 million for gun jumping (Cofepp / Marie Brizard Wine & Spirits)
Access to this article is restricted to subscribers
Already Subscribed? Sign-in
Access to this article is restricted to subscribers.
Read one article for free
Sign-up to read this article for free and discover our services.
