Trustees in Mergers

Foreword Trustees in Mergers: An overview of EU and national case law

In this foreword, I reflect on the role of the monitoring trustee as the eyes and ears of a competition authority highlighting the main features in a typical merger remedy. I review both structural remedies such as divestures of businesses and business assets to an independent purchaser to restore or maintain competition, and behavioural remedies which can take various forms ranging from hold-separate obligations to access commitments and long-term supply or purchase agreement to enable third parties to preserve competition. Then I discuss a number of challenges that trustees increasingly face particularly in innovation intensive industries where several major global mergers have been cleared subject to sometimes very complex remedies. I draw on my experience as monitoring trustee (both structural and behavioural remedies) for the European Commission, the FTC as well as other national competition authorities, and as a former member of the UK Competition & Markets Authority.

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Antitrust & TradeRx (Zurich)
Switzerland 10 contributions 27983 visits

Mergers

 The Saudi Arabian Competition Authority grants conditional approval for the acquisition of a market data provider by an innovative technical solutions company (Tadawul Advanced Solutions / Direct Financial Network)
General Authority for Competition (Riyadh)
Saudi Arabia 19 contributions 1823 visits
Tadawul Advanced Solutions Company / Direct Financial Network Company (Direct FN)* Tadawul Advanced Solutions Company and Direct Financial Network Company (Direct FN) (Transaction Parties) submitted obligations to the General Authority for Competition in Saudi Arabia (the Authority) in order (...)

The US DoJ reaches settlement in suit to block a proposed acquisition of a residential door hardware manufacturer’s business division by a rival (ASSA ABLOY / Spectrum)
US Department of Justice (Washington)
United States 181 contributions 80387 visits
Justice Department Reaches Settlement in Suit to Block ASSA ABLOY’s Proposed Acquisition of Spectrum Brands’ Hardware and Home Improvement Division* The Department of Justice announced today that it has reached a settlement in its litigation regarding ASSA ABLOY AB’s (ASSA ABLOY) proposed (...)

The Irish Competition Authority clears acquisition of a pharmaceutical retail chain’s parent company by its rival subject to commitments (Uniphar / LXV Remedies)
Irish Competition Authority (Dublin)
Ireland 104 contributions 16756 visits
CCPC requires binding commitments from Uniphar to acquire Sam McCauley Chemists* The Competition and Consumer Protection Commission (CCPC) has cleared, subject to a number of legally binding commitments, the proposed acquisition by Uniphar PLC (Uniphar) of sole control of LXV Remedies (...)

The EU Commission clears the merger between a Big Tech company and a provider of customer service and support CRM software, subject to conditions (Meta / Kustomer)
European Commission - DG COMP (Brussels)
Belgium 1368 contributions 2944667 visits
Mergers: Commission clears acquisition of Kustomer by Meta (formerly Facebook), subject to conditions* The European Commission has today approved under the EU Merger Regulation the proposed acquisition of Kustomer by Meta (formerly Facebook). The approval is conditional on full compliance (...)

The Brazilian Competition Authority allows a European shipping company to exercise some corporate control over a national logistics company while the Authority considers its proposed acquisition (SAS Shipping Agencies Services / Log-In Logística Intermodal)
Brazilian Administrative Council for Economic Defense (CADE) (Brasilia)
Brazil 75 contributions 21829 visits
CADE allows SAS to exercise some corporate control over the business affairs of Log-In until the case is adjudicated* The authorization ensures the reversibility of the transaction and the competitive conditions of the affected markets On 15 December 2021, the Administrative Council for (...)

The Italian Competition Authority imposes a record fine of over €1 billion as well as behavioral remedies on an e-commerce company for abusing its dominant position through engaging in discriminatory practices and denying third-party sellers access to certain sales prospects crucial to increasing their visibility on its website (Amazon)
Luiss Guido Carli University (Rome)
Italy 7 contributions 2626 visits
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Luiss Guido Carli University (Rome)
Italy 15 contributions 11496 visits
,
Luiss Guido Carli University (Rome)
Italy 7 contributions 4360 visits
The case concerned a number of companies within the Amazon group (hereafter “Amazon”), including: a) Amazon Europe Core S.r.l., with legal domicile in Luxembourg, which is the company of the Amazon group responsible for the management of the websites of Amazon’s European marketplaces and owner (...)

The Canadian Competition Authority clears an acquisition of 51 convenience stores subject to divestment of 1 store in Kemptville and other conditions (MacEwen / Grant Castle / Quickie)
Journal of Parliamentary and Political Law (Ottawa)
51 contributions 21461 visits
Introduction Canada’s Competition Bureau (‘Bureau’), which assists the Commissioner of Competition (‘Commissioner’) in the administration and enforcement of the Competition Act (‘Act’), announced on 29 October 2021 that the Commissioner had entered into a Consent Agreement (‘Agreement’) with (...)

The US Surface Transportation Board confirms its earlier approval of a voting trust in a proposed merger between a Canadian and an American railroad in their revised merger application (CP / KCS)
Journal of Parliamentary and Political Law (Ottawa)
51 contributions 21461 visits
Introduction It is full steam ahead with likely no further detours for Canadian Pacific Railway Ltd. (‘CP’) and Kansas City Southern Railway Co. (‘KCS’). The US Surface Transportation Board (‘STB’ or ‘the Board’) confirmed on 30 September 2021 that its prior approval of a voting trust as a (...)

The French Competition Authority conditionally clears an acquisition between two suppliers specialized in the trade-in wood and panels for construction professionals (Panofrance / Distribution Matériaux Bois-Panneaux)
French Competition Authority (Paris)
France 748 contributions 411154 visits
Wood and panel trade: the Autorité conditionally clears the acquisition of Panofrance (Chausson Matériaux) by Distribution Matériaux Bois-Panneaux (Saint-Gobain)* On 6 July 2021, Distribution Matériaux Bois-Panneaux (DMBP) notified the Autorité de la concurrence of its plan to acquire (...)

The EU Commission adopts final measures to preserve the divestment of a former company plant in Belgium after a merger (Novelis / Aleris)
European Commission - DG COMP (Brussels)
Belgium 1368 contributions 2944667 visits
Mergers : Commission adopts final measures to preserve the divestment of former Aleris plant in Belgium following Novelis’ acquisition of Aleris* The European Commission has adopted final measures to preserve the divestment of the former Aleris plant in Duffel, Belgium, by Novelis under the (...)

The UK Competition Authority orders the divestment of a merging party’s international arm in the secondary ticketing market (Viagogo / StubHub)
Van Bael & Bellis (London)
United Kingdom 16 contributions 3636 visits
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Van Bael & Bellis (London)
United Kingdom 8 contributions 1753 visits
On 2 February 2021, the UK Competition and Markets Authority (“CMA”) published its final report following a Phase 2 investigation of the completed acquisition by the ticket reseller viagogo of competitor StubHub (previously part of eBay Inc.). The $4.1 billion (£3.1 billion) transaction was (...)

The EU Commission clears acquisition of American financial markets data and infrastructure provider by a financial infrastructure company subject to conditions (Refinitiv / London Stock Exchange Group)
European Commission - DG COMP (Brussels)
Belgium 1368 contributions 2944667 visits
Mergers: Commission clears acquisition of Refinitiv by London Stock Exchange Group, subject to conditions* The European Commission has approved, under the EU Merger Regulation, the acquisition of Refinitiv by the London Stock Exchange Group (‘LSEG’). The approval is conditional on full (...)

The French Competition Authority makes binding the commitments made by two supermarket chains for their cooperation on purchasing own-brand label goods (Carrefour / Tesco)
French Competition Authority (Paris)
France 748 contributions 411154 visits
The Autorité issues a new decision concerning purchasing offices and makes the commitments made by Carrefour and Tesco binding* The retailers commit to reducing the scope of their joint purchases for their own-brand labels and take measures to ensure that SMEs have access to tenders for the (...)

The Hong Kong Competition Authority accepts commitments by four container terminal operators applying to form a joint venture (Hong Kong Seaport Alliance)
Hong Kong Competition Commission (Hong Kong)
Hong Kong 55 contributions 11847 visits
Competition Commission accepts commitments from Hong Kong Seaport Alliance* The Competition Commission (“Commission”) today announced the acceptance of commitments (“Commitments”) offered under section 60 of the Competition Ordinance (“Ordinance”) by Modern Terminals Limited (“MTL”) and HPHT (...)

The Spanish Competition Authority clears, with remedies and monitoring, the acquisition of a white cement business (ÇIMSA / CEMEX)
Spanish Competition Authority (CNMC) (Madrid)
Spain 143 contributions 31825 visits
The CNMC clears, with remedies, ÇIMSA’s acquisition of CEMEX’s white cement business* The merger has been cleared after intensive work during the second phase subject to a package of remedies that has been subject to a market test, both with the competitors and with the main customers of the (...)

The Spanish Competition Authority clears, with remedies, a merger in the cement business (ÇIMSA / CEMEX)
Callol, Coca & Asociados (Madrid)
Spain 170 contributions 47335 visits
,
Latham & Watkins (Brussels)
Belgium 24 contributions 3400 visits
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Callol, Coca & Asociados (Madrid)
Spain 65 contributions 22351 visits
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According to the recently published press release, after a fourteen-month investigation, the CNMC has cleared in phase II the acquisition of Cemex’ white cement divisions by Çimsa subject to conditions. The CNMC initiated a phase II in-depth review due to potential competition problems in (...)

The US FTC requires divestitures as a condition of a merger in the markets for gasoline and diesel fuel (Arko Holdings / Empire Petroleum Partners)
US Federal Trade Commission (FTC) (Washington)
United States 184 contributions 47046 visits
FTC Requires Divestitures as Condition of Arko Holdings Ltd.’s Acquisition of Empire Petroleum Partners, LLC* Arko Holdings Ltd. and Empire Petroleum Partners, LLC have agreed to divest retail fuel assets in local gasoline and diesel fuel markets across four states to settle Federal Trade (...)

The US DoJ reaches a settlement with new stricter conditions and fines the company after finding violations of the original conditions (CenturyLink / Level 3 Communications)
US Department of Justice (Washington)
United States 181 contributions 80387 visits
Justice Department Brings Enforcement Action Against Centurylink* In Significant Action, CenturyLink Agrees to Extend Term, Appoint Independent Monitor, and Reimburse Taxpayers for the Costs and Fees of the Violations The Department of Justice announced today that CenturyLink, Inc. has (...)

The US FTC requires global suppliers of animal health products to divest assets in 3 product markets as a condition for merger clearance (Elanco / Bayer)
US Federal Trade Commission (FTC) (Washington)
United States 184 contributions 47046 visits
FTC Requires Global Suppliers of Animal Health Products Elanco Animal Health, Inc. and Bayer Animal Health GmbH to Divest Assets in Three Product Markets, as a Condition of Merger* The Federal Trade Commission will require global suppliers of animal products, Elanco Animal Health, Inc. and (...)

The Irish Competition Authority lets a merger between laundry businesses serving healthcare providers go into effect after having found they fulfilled all required commitments (Berendsen / Kings Laundry)
Irish Competition Authority (Dublin)
Ireland 104 contributions 16756 visits
Berendsen/Kings Laundry merger update* On 8 July 2019, the Competition and Consumer Protection Commission (CCPC) cleared, subject to a number of legally binding commitments, the proposed acquisition of sole control of Kings Laundry Limited (Kings Laundry) by Berendsen Ireland Limited (...)

The US FTC clears transfer of ownership over certain assets between energy companies subject to divestments (Tri Star Energy / Hollingsworth Oil Company / C & H Properties / Ronald L. Hollingsworth)
US Federal Trade Commission (FTC) (Washington)
United States 184 contributions 47046 visits
FTC Requires Divestitures as Condition of Tri Star Energy, LLC’s Acquisition of Certain Assets of Hollingsworth Oil Company, Inc., C & H Properties, and Ronald L. Hollingsworth* Tri Star Energy, LLC and Hollingsworth Oil Company, Inc., C & H Properties, and Ronald L. Hollingsworth (...)

The French Competition Authority closes ex officio proceedings to verify compliance with remedies concerning a merger in the telecom sector (Altice / SFR)
French Competition Authority (Paris)
France 748 contributions 411154 visits
Telecoms* The Autorité closes the ex officio proceedings it had started to ensure compliance with the commitments concerning the sale of Completel’s DSL network made by Altice France when it acquired SFR. The Autorité considers that there is no evidence to characterise Altice France’s (...)

The Austrian Competition Authority conditionally clears a merger in the hardware and software sector (Carl Zeiss / GOM)
Van Bael & Bellis (Brussels)
Belgique 227 contributions 72761 visites
On 13 June 2019, the Austrian Federal Competition Authority cleared the acquisition of GOM, a supplier of hardware and software for automated 3D-coordinate metrology, by Carl Zeiss, a technology company in the optical and optoelectronic industry. The clearance is subject to commitments. Among (...)

The EU Commission accepts remedies proposed by two financial services companies to cut inter-regional interchange fees (Mastercard II / Visa)
European Commission - DG COMP (Brussels)
Belgium 1368 contributions 2944667 visits
Antitrust: Commission accepts commitments by Mastercard and Visa to cut inter-regional interchange fees* The European Commission has made commitments offered by Mastercard and Visa legally binding under EU antitrust rules. The companies will significantly reduce (on average by around 40%) (...)

The UK Competition Authority fines a company for failure to comply with initial enforcement order (JLA / Washstation)
Van Bael & Bellis (Brussels)
Belgique 227 contributions 72761 visites
On 8 March 2019, the UK’s Competition and Markets Authority (“CMA”) fined JLA £120,000 for failure to comply with an initial enforcement order (“IEO”). Under UK competition law, the CMA may impose an IEO on merging parties to prevent them from taking pre-emptive action which might prejudice (...)

The EU Commission accepts remedies proposed by entertainment companies ending competition concerns in the pay-TV services market (Disney / NBC Universal / Sony Pictures / Warner Bros / Sky)
European Commission - DG COMP (Brussels)
Belgium 1368 contributions 2944667 visits
Antitrust: Commission accepts commitments by Disney, NBCUniversal, Sony Pictures, Warner Bros. and Sky on cross-border pay-TV services* The European Commission has made commitments offered by Disney, NBCUniversal, Sony Pictures, Warner Bros. and Sky legally binding under EU antitrust rules. (...)

The UK Competition Authority issues first order reversing pre-closing integration (Tobii / Smartbox)
DLA Piper (London)
United Kingdom 28 contributions 11528 visits
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Bristows (London)
United Kingdom 3 contributions 1030 visits
The UK Competition & Markets Authority ("CMA") issued its first order requiring parties to a completed merger to reverse pre-closing integration that the CMA believes prejudiced its ability to assess the deal’s impact on competition in the UK. This case is a reminder that parties who (...)

The EU Commission imposes binding remedies on a German grid operator to increase electricity trading (TenneT)
European Commission - DG COMP (Brussels)
Belgium 1368 contributions 2944667 visits
Antitrust: Commission imposes binding obligations on TenneT to increase electricity trading capacity between Denmark and Germany* The European Commission has adopted a decision rendering legally binding commitments offered by German grid operator TenneT to significantly increase cross-border (...)

The EU Commission invites interested parties to comment on the commitments offered by two credit card companies to address competition concerns relating to inter-regional interchange fees for card payment transactions (Mastercard II / Visa)
European Commission - DG COMP (Brussels)
Belgium 1368 contributions 2944667 visits
Antitrust: Commission seeks feedback on commitments offered by Visa and Mastercard on inter-regional interchange fees* The European Commission is inviting comments from interested parties on commitments offered separately by Visa and Mastercard to address competition concerns relating to (...)

The Hellenic Competition Authority clears an acquisition of joint control over a dairy milk company subject to commitments (Delta Foods / Mevgal)
Prentoulis Gerakini Law Partnership (Athens)
Greece 6 contributions 2542 visits
Under its decision No. 650/2017 the Hellenic Competition Commission (HCC) approved the acquisition of joint control of Mevgal SA by Delta Food SA and members of the Hatzakou family. Delta Food S.A., member of the Vivartia Group of companies, produces and distributes dairy products such as, (...)

The French Competition Authority adopts an innovative merger decision in the healthcare institution sector assessing not only the effects on medical services but also non-medical ancillary services (Médipôle-Partenaires / Elsan)
TotalEnergies (Paris)
France 5 contributions 3445 visits
The French Competition Authority (FCA) has adopted an innovative merger decision in the health care institution sector, assessing not only the effects of the operation on medical services (diagnostic and treatments), but also the effects on non-medical ancillary services. An innovative merge (...)

The Belgian Competition Authority clears a merger subject to remedies in the telecommunication market (Coditel / Telenet)
Belgian Competition Authority (Brussels)
Belgium 122 contributions 24508 visits
THE BCA HAS APPROVED CONDITIONALLY THE ACQUISITION OF CODITEL BY TELENET* The Competition College of the Belgian Competition Authority (BCA) has approved conditionally on 12 June 2017 the acquisition of Coditel Brabant SPRL and her subsidiary Coditel SARL (hereafter ‘Coditel’) by Telenet (...)

The EU Commission clears a merger subject to remedies in the container shipping services market (Hamburg Süd / Maersk Line)
European Commission - DG COMP (Brussels)
Belgium 1368 contributions 2944667 visits
MERGERS: COMMISSION APPROVES ACQUISITION OF HAMBURG SÜD BY MAERSK LINE, SUBJECT TO CONDITIONS* The European Commission has cleared under the EU Merger Regulation the proposed acquisition of container liner shipping company Hamburg Südamerikanische Dampfschifffahrts-Gesellschaft KG (HSDG) of (...)

The Israeli Competition Authority announces fines against a supermarket chain and its senior officer for not divesting an acquired competitor’s branches in the agreed upon time (Bitan Wines / Mega)
Israel Competition Authority (Jerusalem)
Israël 17 contributions 2196 visites
The Antitrust Authority Has Announced Its Intention to Impose Financial Sanctions on Bitan Wines and a Senior Officer Thereof for Violation of the Terms of the Merger with Mega* The Antitrust Authority has announced today (Sunday) its intention to impose a financial sanction in the sum of (...)

The US FTC publishes its merger remedies report and signals tougher enforcement for designing and implementing remedies
Skadden, Arps, Slate, Meagher & Flom (Washington)
United States 22 contributions 6863 visits
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Jones Day (Houston)
États-Unis 35 contributions 15927 visites
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Jones Day (Washington)
United States 18 contributions 8073 visits
The Federal Trade Commission staff have completed a new study evaluating its process for designing and implementing merger remedies and the success of the remedies it has imposed in the past. Its report—"The FTC’s Merger Remedies 2006-2012: A Report of the Bureaus of Competition and (...)

The French Competition Authority clears a merger, subject to remedies, on the smoked trout market (Aqualande Group / Labeyrie)
French Competition Authority (Paris)
France 748 contributions 411154 visits
The Autorité de la concurrence clears the acquisition of joint control of the Aqualande Group by Labeyrie together with the agricultural cooperative Les Aquaculteurs Landais, subject to commitments* On 21 January 2016, Labeyrie and Les Aquaculteurs Landais notified the Autorité de la (...)

The EU Commission clears acquisition of a fourth largest global manufacturer of generic medicines by the largest global competitor, subject to complex remedies and monitoring, including addressing concerns about vertical relationships between parties for the first time in a generics merger (Teva / Allergan Generics)
European Commission - DG COMP (Brussels)
Belgium 5 contributions 2849 visits
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URBAN STEINECKER GAŠPEREC BOŠANSKÝ (Bratislava)
Slovakia 1 contribution 335 visits
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Sciences Po Paris
France 5 contributions 1756 visits
Teva/Allergan Generics: An unprecedented generics merger* In a nutshell While the Commission has had significant experience dealing with mergers in the generic medicines industry, the sheer scale of Teva/Allergan Generics, combining two of the top four players globally, posed a number of (...)

The Lithuanian Competition Authority clears a merger subject to commitments in the insurance sector (PZU / Lietuvos draudimas)
Valiunas Ellex (Vilnius)
Lithuania 6 contributions 2011 visits
On 9 October 2014 the Lithuanian competition authority adopted a decision clearing the acquisition of 100% shares of AB “Lietuvos draudimas” by PZU S.A., subject to commitments. The transaction concerned Lithuanian insurance sector and it entailed a horizontal concentration between two of (...)

The US FTC states that in order to address the competition concerns raised by the proposed acquisition of pharma laboratories, a settlement agreement to sell or relinquish rights to generics pharmaceuticals has been tentatively accepted (Actavis / Forest Laboratories)
Ashurst (Milan)
Italy 103 contributions 30343 visits
U.S. FTC makes Actavis’ acquisition of Forest subject to conditions* On 30 June 2014, the U.S. Federal Trade Commission (“FTC”) stated that, in order to address the competition concerns raised by Actavis’s proposed acquisition of Forest Laboratories, it has tentatively accepted the proposed (...)

The French Competition Authority conditionally clears an acquisition of sole control on the luxury perfumes and cosmetics market (Nocibé / Advent)
French Competition Authority (Paris)
France 748 contributions 411154 visits
Press Release published on the official website of the French Competition Authority. The Autorité de la concurrence clears the acquisition of sole control of Nocibé by Advent (Douglas) subject to the divestment of 38 sales outlets by the new entity. These commitments will provide consumers (...)

The French Competition Authority conditionally clears a merger in the TV-broadcasting sector (Canal Plus / D8 and D17 TV Channels)
French Competition Authority (Paris)
France 748 contributions 411154 visits
The Autorité de la concurrence again clears, subject to remedies, the acquisition of D8 and D17 by Vivendi and Groupe Canal Plus.* The commitments made by GCP and Vivendi are identical to those made at the time of the 2012 clearance decision with the exception of the one related to the (...)

The French Competition Authority conditionally clears an acquisition of sole control on the pay-TV market (Canal Plus Overseas / Mediaserv)
French Competition Authority (Paris)
France 748 contributions 411154 visits
Subject to a number of commitments, the Autorité de la concurrence has cleared the acquisition of Mediaserv by Canal Plus Overseas, a subsidiary of the Canal Plus Group* The Autorité de la concurrence has cleared, subject to a number of commitments, the exclusive takeover by the Canal Plus (...)

The Chinese MOFCOM conditionally approves the acquisition of a semiconductor company for display and digital home platforms by a semiconductor company for wireless communications and digital multimedia solutions (MediaTek / MStar)
University of Melbourne
Australia 103 contributions 29858 visits
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China Competition Bulletin (Beijing)
China 101 contributions 26809 visits
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Institute of American Studies (Beijing)
China 52 contributions 15534 visits
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On 27 August 2013, MOFCOM announced that it had conditionally approved the acquisition of MStar Semiconductor Inc. (MStar) by MediaTek Inc. (MediaTek). MediaTek is a fabless semiconductor company for wireless communications and digital multimedia solutions, and MStar is a semiconductor (...)

The French Competition Authority clears, subject to conditions, the merger between two companies manufacturing earthenware construction materials (Bouyer-Leroux / Imerys TC)
French Competition Authority (Paris)
France 748 contributions 411154 visits
Press Release published on the official website of the French Competition Authority. The Autorité de la concurrence clears, subject to conditions, the acquisition of Imerys TC assets by Bouyer-Leroux. The commitments made by Bouyer-Leroux enable the removal of all risks to competition in (...)

The French Competition Authority clears, subject to commitments, an acquisition of sole control in the food retail market (Casino Guichard Perrachon / Monoprix)
French Competition Authority (Paris)
France 748 contributions 411154 visits
Press Release published on the official website of the French Competition Authority. The Autorité de la concurrence clears, subject to commitments, the acquisition of sole control of Monoprix by Casino Casino undertakes to divest 55 shops in Paris and 3 in the French département of Var and (...)

The French Competition Authority approves the implementation of an injunction after a merger in the pay TV sector (Canal Plus / TPS)
French Competition Authority (Paris)
France 748 contributions 411154 visits
Press Release published on the official website of the French Competition Authority. The Autorité de la Concurrence approves three reference offers from the Groupe Canal Plus, after amendments. The first one regulates access of independent channels to distribution services by CanalSat; the (...)

The Chinese MOFCOM requests public comments on draft provisions concerning the evaluation, negotiation, implementation, monitoring, and reconsideration of the remedies used in the conditional approvals issued as a result of the pre-merger review process
Sheppard Mullin (Beijing)
China 5 contributions 781 visits
MOFCOM Requests Public Comments on Draft Provisions Related to Remedies Imposed in Conditional Approvals* Since the Anti-monopoly Law (“AML”) has come into effect in August 2008, MOFCOM has issued 16 conditional approvals requiring certain structural or behavioral remedies in order to (...)

The Chinese MOFCOM clears conditionally an acquisition in the grain trading sector (Marubeni / Gavilon)
King & Wood Mallesons (Beijing)
China 36 contributions 23527 visits
MOFCOM Cleared Marubeni’s Acquisition of Gavilon with Conditions* On April 22, 2013, the Ministry of Commerce (“MOFCOM“) cleared the proposed acquisition of Gavilon Holdings, LLC (“Gavilon“) by Marubeni Corp (“Marubeni“) (the “Transaction”) with conditions. This is the second case (...)

The Chinese MOFCOM imposes complex behavioral remedies after identifying potential concerns about the impact on competition in the import of soybeans to China (Marubeni / Gavilon)
Fingleton (London)
United Kingdom 6 contributions 3146 visits
On the 23rd April 2013 MOFCOM published its 2nd merger decision of the year. It was a clearance, with conditions, of the merger between Marubeni Corp, a publicly listed company headquartered in Japan, and Gavilon Holdings LLC, a privately held company based in the USA. Process The parties (...)

The Serbian Competition Authority clears a retail merger in a phase II procedure with the imposition of behavioural remedies (Stampa Sistem / Futura Plus)
University of Macau - Faculty of Law
Chine 284 contributions 226356 visites
On 22 November 2012 the Serbian Competition Authority (KZK) has cleared in a Phase II procedure a concentration in the market for retail trade in kiosks of cigarettes and other tobacco products, newspapers and prepaid cards of mobile phone operators. The specified concentration was cleared (...)

The French Competition Authority clears a merger in the maritime transport sector subject to conditions (Eurotunnel / SeaFrance / MyFerryLink)
French Competition Authority (Paris)
France 748 contributions 411154 visits
Press Release published on the official website of the French Competition Authority. The Autorité de la concurrence clears, subject to conditions, the acquisition of certain SeaFrance assets by the Eurotunnel group* The Autorité de la concurrence has just cleared, subject to certain (...)

The EU Court of Justice dismisses appeals against General Court judgments regarding a merger within the publishing industry (Lagardère / VUP)
Van Bael & Bellis (Brussels)
Belgique 227 contributions 72761 visites
On 6 November 2012, the European Court of Justice dismissed two appeals by Editions Odile Jacob against judgments of the General Court in the Lagardère/VUP case. The acquisition by Lagardère of part of rival publishing company Vivendi Universal Publishing was approved by the (...)

The Portuguese Competition Authority holds that the non-timely execution of a divesture commitment leads to an opposition decision (Powervia / Laso)
Morais Leitão, Galvão Teles, Soares da Silva (Lisbon)
Portugal 19 contributions 2570 visits
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Morais Leitão, Galvão Teles, Soares da Silva (Lisbon)
Portugal 24 contributions 2776 visits
I. Introduction On April 20, 2011, the Portuguese Competition Authority (PCA) was notified of a concentration under which Powervia, S.A. (Powervia), an investment fund, notified the acquisition of sole control over the following companies: Laso – Transportes, S.A., Auto – Laso, S.A. and (...)

The French Competition Authority conditionally clears a merger in the television sector (Canal Plus / Direct 8)
French Competition Authority (Paris)
France 748 contributions 411154 visits
Press Release published on the official website of the French Competition Authority. The Autorité de la concurrence clears the acquisition of Direct 8 and Direct Star by Vivendi and Groupe Canal Plus, subject to conditions* On 23 July 2012, the Autorité de la concurrence cleared the (...)

The Italian Competition Authority clears a merger between two major ferry companies by imposing a set of behavioural remedies (Compagnia Italiana di Navigazione / Tirrenia)
Municipality of Cagliari
168 contributions 134418 visits
Introduction By a decision made on 21 June 2012 the Italian Competition Authority (ICA) has cleared the acquisition of the ferry service branch of the debt-stricken publicly owned ferry operator Tirrenia by Compagnia Italiana di Navigazione (CIN). The go-ahead for the transaction was made (...)

The Italian Competition Authority authorizes with conditions the acquisition of certain assets of a shipping company by a company jointly controlled by a private equity firm and by another shipping company (Compagnia Italiana di Navigazione / Ramo di Azienda di Tirrenia di Navigazione)
Legance - Studio Legale (Rome)
France 12 contributions 12874 visits
1. The sale process of Tirrenia and the proceeding before the European Commission The present concentration concerns the sale of the main assets of the shipping company Tirrenia, previously controlled by the Italian State. Due to the economic and financial difficulties suffered by Tirrenia, (...)

The Chinese MOFCOM approves US-based company’s takeover of a competitor with divestment in the production and sale of aviation equipment (United Technology / Goodrich)
University of Melbourne
Australia 103 contributions 29858 visits
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China Competition Bulletin (Beijing)
China 101 contributions 26809 visits
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Institute of American Studies (Beijing)
China 52 contributions 15534 visits
On 15 June 2012, MOFCOM announced that it had conditionally approved the proposed USD 18.4 billion acquisition of Goodrich Corporation (Goodrich) by United Technology Corporation (UTC), both US-based companies active in the production and sale of aviation equipment on a worldwide basis. (...)

The Chinese MOFCOM conditionally clears an acquisition in the smartphone and smartphone operating system sectors (Google / Motorola Mobility)
Institute of American Studies (Beijing)
China 52 contributions 15534 visits
China’s Ministry of Commerce Conditionally Clears the Google/Motorola Mobility Deal* On 19 May 2012, China’s Ministry of Commerce (‘MOFCOM’) announced its conditional clearance decision on the acquisition of Motorola Mobility by Google, which removed the last hurdle for the USD12.5 billion (...)

The Chinese MOFCOM approves acquisition subject to what some observers believe were over-cautious conditions linked to a lack of experience and institutional resources (Google / Motorola Mobility)
Sheppard Mullin (Beijing)
China 5 contributions 781 visits
China’s MOFCOM Grapples With Open Source Issues In Google-Motorola Deal* This past February the US Department of Justice (“DOJ”) and European Commission ( “Commission” ) cleared Google Inc.’s acquisition of Motorola Mobility Holdings Inc. without any conditions. In contrast, on May 19, 2012 (...)

The French Competition Authority clears, subject to conditions, a merger in the electricity and gas supply markets (Electricité de Strasbourg / Enerest)
French Competition Authority (Paris)
France 748 contributions 411154 visits
Press Release published on the official website of the French Competition Authority. The Autorité de la concurrence clears – subject to conditions – the acquisition of Enerest by Electricité de Strasbourg (EDF Group)*. Electricité de Strasbourg, a company owned 88.82% by EDF, is a local (...)

The Chinese MOFCOM conditionally clears the acquisition in electronic yarn clearers for automatic winders (Penelope / Savio Macchine Tessili)
King & Wood Mallesons (Beijing)
China 36 contributions 23527 visits
MOFCOM’s 8th Conditional Clearance - Alpha V/Savio Deal* On 31 October 2011, the Ministry of Commerce (MOFCOM) publicly announced the eighth conditional merger clearance since the enactment of the Anti-monopoly Law (AML) in 2008. According to its announcement , MOFCOM cleared the proposed (...)

The Chinese MOFCOM approves, subject to equity divestiture, a proposed acquisition in electronic yarn clearers for automatic winders (Penelope / Savio Macchine Tessili)
Linklaters (Beijing)
China 17 contributions 8261 visits
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Linklaters (Shanghai)
China 8 contributions 2349 visits
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Euclid Law (London)
United Kingdom 16 contributions 5248 visits
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On 31 October 2011, the Ministry of Commerce of the People’s Republic of China (“MOFCOM”) announced its eighth conditional clearance decision, approving the acquisition of Savio by Penelope subject to an equity divestiture. This is the third decision since the introduction of the AML to (...)

The French Competition Authority clears, subject to commitments, a merger in the retail grocery sector in Martinique (Bernard Hayot / Cora)
French Competition Authority (Paris)
France 748 contributions 411154 visits
The Autorité de la concurrence clears, subject to commitments, the acquisition of a Cora hypermarket by Groupe Bernard Hayot on Martinique (French West Indies)*. The Autorité de la concurrence is today publishing a decision clearing, subject to commitments, the acquisition by Groupe Bernard (...)

The Italian Competition Authority closes an infringement procedure on whether remedies imposed on a banking merger were implemented properly (Banca Intesa / San Paolo IMI)
Municipality of Cagliari
168 contributions 134418 visits
By a recent decision, the Italian Competition Authority (ICA) has closed the infringement procedure on whether the parties to the bank merger Banca Intesa/San Paolo IMI had correctly implemented the remedies imposed in the conditional authorization of the transaction. The ICA was happy with (...)

The French Competition Authority clears, subject to conditions, a merger in the regional daily press sector (Crédit Mutuel / Est Républicain)
French Competition Authority (Paris)
France 748 contributions 411154 visits
The Autorité de la concurrence clears, subject to conditions, the proposed acquisition of sole control of the Est Républicain Group by the Crédit Mutuel*. The Autorité de la concurrence has examined the acquisition of the Est Républicain group by the Banque Fédérative du Crédit Mutuel (...)

The US DoJ issues its policy guide to merger remedies
University of Albany
5 contributions 3071 visits
,
American Bar Association (Washington)
United States 3 contributions 2297 visits
,
Bona Law (New York)
United States 3 contributions 2958 visits
This article has been nominated for the 2012 Antitrust Writing Awards. Click here to learn more about the Antitrust Writing Awards. Summary On Friday, June 17, 2011, the U.S. Department of Justice released the Antitrust Division’s Policy Guide to Merger Remedies. The Guide describes the (...)

The Chinese MOFCOM conditionally approves merger between two Russian undertakings in the Chinese potash industry (Uralkali / Silvinit)
Linklaters (Beijing)
China 17 contributions 8261 visits
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Linklaters (Shanghai)
China 8 contributions 2349 visits
,
Euclid Law (London)
United Kingdom 16 contributions 5248 visits
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On 2 June 2011, under two months into Phase 2, the Ministry of Commerce of the People’s Republic of China (“MOFCOM”) publicly announced its decision approving the merger of Uralkali with Silvinit, leading to the creation of the world’s second largest potassium chloride supplier, subject to (...)

The EU Commission clears in phase I a merger in the silicon sector after examining possible coordination of Chinese State-owned companies’ market behavior by the Chinese State (China National Bluestar / Elkem)
Skadden, Arps, Slate, Meagher & Flom (Brussels)
Belgium 69 contributions 33336 visits
How to deal with Chinese State-owned Enterprises under the EUMR?* On 13 September, the Commission published its decision of 31 March 2011 in China National Bluestar/Elkem. After DSM/Sinochem/JV (decision of 10 May but published in June), this was the second published decision which dealt in (...)

The Netherlands Competition Authority clears a merger between two groups controlling over 100 pharmacies subject to the divestiture of 4 pharmacies (Brocacef / Lloyds Nederland)
Oxera (Amsterdam)
Netherlands 6 contributions 1711 visits
The merger The merger involved the acquisition of Lloyds Nederland BV («Lloyds») by Brocacef Holding NV («Brocacef»). Lloyds operated 63 pharmacies in the Netherlands at the time of the decision by the Netherlands competition authority («NMa») and is a subsidiary of the German group (...)

The Chinese MOFCOM publishes provisional rules on divestitures remedies
AnJie Broad Law (Beijing)
Chine 44 contributions 12633 visites
Divestiture Regulation: A Giant Leap in Chinese Concentration Review Regime* On July 8th, MOFCOM (Ministry of Commerce of People’s Republic of China) released The Provisional Rules on Implementing Divestiture of Assets or Businesses(“Provisional Rules”). This legislative move can be seen as (...)

The French Competition Authority clears, under conditions, a merger in the sugar and spirits sector in the Reunion Island (Tereos / Quartier Français)
French Competition Authority (Paris)
France 748 contributions 411154 visits
The Autorité de la concurrence clears the acquisition of the Quartier Français Group by the Tereos Group, under certain conditions.* The Autorité de la concurrence has carefully examined the Tereos Group’s acquisition of the Quartier Français Group, that is primarily active in the sugar and (...)

The Italian Competition Authority finds the commitments proposed by the parties suitable to ensure the correct implementation of the remedies imposed for the approval of a bank merger (Banca Intesa / San Paolo IMI)
Municipality of Cagliari
168 contributions 134418 visits
It seems that the Banca Intesa/San Paolo IMI merger case may finally come to an end. By a recent decision, the Italian Competition Authority (ICA) accepted the remedies offered by the parties to ensure the correct implementation of the obligations they undertook for the regulatory approval of (...)

The French Competition Authority issues an opinion on the possible implementation of a single price system for digital books
French Competition Authority (Paris)
France 748 contributions 411154 visits
Digital books: the Autorité de la concurrence believes that observing this market, still in its infancy, is a necessary prerequisite.* The Minister for Culture and Communication has sought an opinion from the Autorité de la concurrence relative to various measures leading to the (...)

The Portuguese Competition Authority prohibits an acquisition in the airport handling services market and orders share divestiture (GroundForce / TAP)
University College London
United Kingdom 2 contributions 2836 visits
The competition authority in Portugal (Autoridade da Concorrência - AdC) decided last November 19, 2009, after investigation, to prohibit the acquisition by TAP - Transportes Aéreos Portugueses, S.A (TAP) of the exclusive control of SPdH - Serviços Portugueses de Handling,S.A. (SPdH), by (...)

The Italian Competition Authority investigates the sale of television rights in the national football league on suspicion of such rights having been packaged to benefit incumbent pay-TV operators and not viewers (Lega Calcio)
University of Turin (Turin)
Italy 7 contributions 8564 visits
Since July 22, 2009 the Italian Competition Authority is investigating the sale of lucrative television rights to soccer matches in the country’s top league, Lega Calcio, because it suspects such rights have been packaged to benefit incumbent pay-TV operators and not viewers (Case n° A/418 of (...)

The Spanish Competition Authority conditionally clears a merger in the supermarket sector (Supermercados Sabeco / Galerías Primero)
PwC (Madrid)
Spain 24 contributions 53502 visits
The operation The operation involved the acquisition of 100% of Galerías Primero by Auchan, through its subsidiary Sabeco. The Auchan group is a French-based multinational company specialising in the operation of retail stores, mainly hypermarkets and supermarkets. In Spain, the main brands (...)

The Turkish Competition Authority states that the remedies imposed in a previous merger clearance decision are fulfilled (Greencastle / Intergum)
Karia Bodrum Group (Mugla)
Turkey 5 contributions 16691 visits
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Getir (Istanbul)
Turkey 1 contribution 1868 visits
On 23 August 2007 the Turkish Competition Board (the “Board”) granted a conditional approval to the transfer of 100% of the shares in i) Intergum Gida San. ve Tic. A.S., (ii) Dandy Sakiz ve Sekerleme Sanayi A.S. (“Dandy”), (iii) Falim Sakiz San. ve Tic. A.S. (“Falim”) and (iv) Intergum North (...)

The EU Commission issues a revised version of the merger remedies notice
Queen Mary University of London
United Kingdom 13 contributions 17235 visits
The European Commission («Commission») published in October 2008 its Remedies Notice revising the 2001 Remedies Notice. The Commission in this Notice provides taxonomy of the different types of remedies that it will consider and outlines the procedure of submitting remedies. Taxonomy of (...)

The German Competition Authority conditionally clears a merger in the market for spin blast cleaning equipment (MEP / DISA)
Humboldt University (Berlin)
Germany 6 contributions 12646 visits
The operation On March 2008 the private equity company Mid Europe Partners (MEP) notified the German Federal Cartel Office (FCO) of its intended purchase of all of the shares of DISA Holding II (DISA). MEP is a independent private equity investment firm focused on Central and Eastern (...)

The Russian Competition Authority clears a merger in the tires market subject to remedies, including a requirement to establish direct contractual relationships with customers (OAO Amtel-Vredestein / Sibur Holding)
Clifford Chance (Moscow)
Russia 11 contributions 26567 visits
The operation The petrochemical company OAO "SIBUR Holding" (“Acquirer”) applied for clearance of the acquisition of indirect control over the entire voting capital of OAO “Amtel Vredestein” (“Target”) as a result of a reverse acquisition of a controlling stake in Amtel Vredestein N.V. The (...)

The US DoJ imposes the divestiture of national operations prior to approving a merger in the market for carbon bonded ceramics products (Cookson / Foseco)
Akin Gump Strauss Hauer & Feld (Dallas)
United States 18 contributions 5113 visits
The DOJ challenged the proposed merger of Cookson Group PLC and Foseco PLC, ultimately reaching a consent decree with the merging parties on March 4, 2008. The terms of the consent decree mandated that Foseco divest its U.S. operations for producing carbon bonded ceramics (“CBC") before (...)

The Russian Competition Authority clears a merger in the retail distribution sector subject to numerous behavioural remedies (Rusel / X5 Retail Group)
Clifford Chance (Moscow)
Russia 11 contributions 26567 visits
The operation The retail company X5 Retail Group N.V. ("Acquirer") applied for clearance of its proposed acquisition of indirect control over the retail group OOO "Rusel" ("Target") through acquisition of 100% in Formata Holding B.V. The market The transaction related to the retail (...)

The Russian Competition Authority clears a merger in the heat supply services sector subject to remedies, including access to pipeline networks and other essential facilities (Tverskaya teplosnabzhayushaya kompaniya / Rossiyskie kommunalnye sistemy)
Clifford Chance (Moscow)
Russia 11 contributions 26567 visits
The operation The utilities provider OAO "Rossiyskie kommunalnye sistemy" (“Acquirer”) requested clearance for the acquisition of the entire voting capital of OOO "Tverskaya teplosnabzhayushaya kompaniya" (“Target”) a provider of pipeline network services for heat supply in the region of (...)

The Russian Competition Authority clears a merger in the electric boiler market subject to remedies, including commitment not to decrease or cease the target’s production (Evan / Nibe Industrier)
Clifford Chance (Moscow)
Russia 11 contributions 26567 visits
The operation The Swedish manufacturer of electric heating applications Nibe Industrier AB (“Acquirer”) applied for clearance of the acquisition of indirect control over ZAO "EVAN" (“Target”) through acquisition of the Swedish holding company Russian Boilers Holdings AB. The market The (...)

The Russian Competition Authority clears a merger in the beer sector with behavioural remedies, including notification on future price increase (Baltic Beverages / Carlsberg)
Clifford Chance (Moscow)
Russia 11 contributions 26567 visits
The operation The brewing company Carlsberg A/S (“Acquirer”) applied for clearance to acquire indirect control over the Russian brewing compay OAO "Pivovarennaya kompaniya Baltika" (“Target”) through acquisition of a 50% stake in Baltic Beverages Holding AG. The market The transaction (...)

The Russian Competition Authority clears a merger in the electric sector subject to remedies, including the divestiture of a power plant (KES-Holding /Volzhskaya TGK)
Clifford Chance (Moscow)
Russia 11 contributions 26567 visits
The operation The investment holding company OOO "KES-Holding" (¡°Acquirer¡±) applied for clearance of its proposed acquisition of the entire voting capital of the electricity and heat power supplier OAO "Volzhskaya TGK" (¡°Target¡±). The market The transaction related to the supply of (...)

The Turkish Competition Authority clears a merger in the food products market subject to brands divestiture and appointed a trustee (MGS-Gýdasa)
Esin (Istanbul)
Turquie 51 contributions 94478 visites
The operation At the time of the notification, Gýdasa was a company which was under the sole control of Sabancý. The products that were being marketed by Gýdasa included, without limitation, beverages, various tea products, packaged water, juices and various meat products. Sabancý Group is (...)

The Russian Competition Authority clears a merger in the aluminum cans and caps market with remedies, including an investment obligation of EUR 690 M in the target’s production facilities (Rostar-Vsevolzhsk / Rexam Beverage Can)
Clifford Chance (Moscow)
Russia 11 contributions 26567 visits
The operation The aluminium packaging manufacturer Rexam Beverage Can Holdings B.V. ("Acquirer") applied for clearance of the proposed acquisition of the entire voting capital of the aluminium can and cap manufacturers OOO "Rostar" and OOO "Rostar-Vsevolzhsk". ("Target") The market The (...)

The French Minister of Economy clears a merger in the sector of mobile telephony products and services, including divestiture and behavioural commitments (France Telecom / Compagnie Européenne de Télévision)
Paris Dauphine University
France 22 contributions 55992 visits
The operation By a letter dated 4 January 2008, the French Minister of Economy, Finance, and Employment authorised a merger between two compagnies specialised in photography and mobile telephony products and services : France Telecom SA and Compagnie Européenne de Téléphonie SA (para. 1.1) (...)

The Irish Competition Authority clears a merger in the market for radio stations subject to the divestment of a previously acquired station (Communicorp / Scottish Radio)
World Economic Forum (Geneva)
Suisse 22 contributions 43263 visites
The operation On 7 December 2007, the Irish Competition Authority (ICA) cleared the acquisition of three radio stations of Scottish Radio Holdings (SRH) by Communicorp subject to remedies. Communicorp’s main business interests are in radio broadcasting in Ireland as well as Eastern and (...)

The French Government clears a merger in the large retail distribution sector with divestment remedies (Carrefour-ED / Treff)
Paris Dauphine University
France 22 contributions 55992 visits
The operation In its decision dated 7 November 2003, the Minister cleared with remedy the merger between the Carrefour group, owner of the retail food discount stores operating under the ED brand, and the company Sonnenglut Weinkellerei, owner of food discount stores operating under the Treff (...)

The French Minister of Economy clears in Phase I with behavioral commitments a merger in the Internet classified advertisements market (Spir / Schibsted)
Paris Dauphine University
France 22 contributions 55992 visits
The operation By a letter of 10 09 2007, the Minister cleared in phase I a merger between Spir and Schibsted compagnies. It created a jointly owned compagny between the notifying parties. The new company controls both parties’ activities in the sector of classified advertisements for the (...)

The Turkish Competition Authority clears a merger in the chewing gum market subject to divestiture and limitation of the duration of the confidentiality obligation (Greencastle / Intergum)
Esin (Istanbul)
Turquie 51 contributions 94478 visites
The operation Greencastle is a wholly owned subsidiary of Cadbury Schweppes which is London based public company. Cadbury Schweppes is active in the business of production and marketing of confectionery and beverages. At the time of the notification, Cadbury was active in the Turkish (...)

The Turkish Competition Authority clears a merger in the chewing-gum market conditional on the transfer of a brand license and appoints a trustee (Greencastle / Intergum)
Karia Bodrum Group (Mugla)
Turkey 5 contributions 16691 visits
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Derman Düren Akol (Istanbul)
Turkey 5 contributions 12539 visits
Greencastle Drinks Limited (“Greencastle Drinks”) applied on June 8, 2007 to the Turkish Competition Board (the “Board”) for obtaining the approval of the latter regarding the transfer of 100% of the shares in (i) Intergum Gida San. ve Tic. A.S . (“Intergum Gida”), (ii) Dandy Sakiz ve (...)

The Italian Competition Authority clears an acquisition on the cash and valuable transportation market with remedies including returning public licenses (Investimenti / Securcontrol)
Chiomenti (Rome)
Italy 19 contributions 51542 visits
The operation On 19 April 2007, the Competition Authority cleared with remedies the acquisition by BS, wholly controlled by BS Private Equity S.p.A. (BSPE), of three companies active in securities services, security consulting and in the sale, installation and maintenance of alarm systems. (...)

The Portuguese Competition Authority clears a phase II merger in the banking sector with remedies including the expansion of its activities (BCP / BPI)
PLMJ (Lisbon)
Portugal 18 contributions 39352 visits
The operation By decision dated 16 March 2007, the PCA authorized in phase II the acquisition of sole control of Banco BPI SA (« BPI ») by the Banco Comercial Português SA (« BCP ») (para. 1). The markets The relevant markets have been defined by the PCA as the market of credit to small (...)

The Russian Competition Authority clears a merger in the aluminum and bauxite sectors with remedies, including margin cap based on the London Metal Exchange price (Rusal / Target)
Clifford Chance (Moscow)
Russia 11 contributions 26567 visits
The operation The holding company United Company RUSAL Limited ("Acquirer") applied for clearance of its acquisition of the entire voting capital in Rusal Limited and Sual International Ltd ("Target") as a result of which RUSAL, SUAL and Glencore intended to create the world’s largest (...)

The UK Competition Authority clears subject to behavioral remedies an acquisition of a rail franchise by the leading supplier of bus travel (FirstGroup / ScotRail)
Serle Court (London)
United Kingdom 13 contributions 24827 visits
The operation FirstGroup was the leading supplier of bus travel in the UK with four bus subsidiaries in Scotland. As at April 2004, it was also the operator of five passenger train operating companies. The Scottish rail franchise operated by ScotRail accounted for 95 per cent of railway (...)

The Portuguese Competition Authority clears a merger in the market for telecommunication and media subject to remedies related to fixed and mobile networks activities, and media and contents activities (Sonaecom / PT merger)
PLMJ (Lisbon)
Portugal 18 contributions 39352 visits
The operation The operation consisted in a merger resulting from a takeover bid launched by SONAECOM, SGPS, S.A. (Sonaecom) over PORTUGAL TELECOM, SGPS, S.A. (PT). Sonaecom is a sub-holding of the SONAE group and operating in the telecommunication, Internet and media areas, especially in (...)

The UK Competition Authority clears a merger in the market for bus and coach services, subject to a divestment remedy (Stagecoach / Scottish Citylink)
World Economic Forum (Geneva)
Suisse 22 contributions 43263 visites
The operation On 23 October 2006, the UK Competition Commission (CC) ex-post cleared the joint-venture between Stagecoach Bus Holdings Limited (Stagecoach Bus) and Braddell plc (Braddell), conditional on the divestment of some of the joint-venture’s ‘Scottish Citylink’ branded (Braddell) or (...)

The Belgian Competition Authority clears a merger in the markets for parking area concessions and motorway restaurant services subject to remedies, including the prohibition on bidding for new concessions, or prolonging existing ones, termination of certain supply obligations, and fidelity rebate schemes (Autogrill / Carestel)
Freshfields Bruckhaus Deringer (Beijing)
China 17 contributions 18103 visits
The operation By decision dated 9 October 2006, the Belgian Competition Council authorised the merger between Autogrill and Carestel subject to remedies. The merger combined the parties’ fast food and commercial catering activities. The market(s) concerned by remedy(ies) The Belgian (...)

The French Minister of Economy clears with remedies a merger in the measurement and billing of the energy sector (Ista / Celliande)
Paris Dauphine University
France 22 contributions 55992 visits
The operation In this decision dated 28 September 2006, the Minister granted in phase I a conditional clearance of the acquisition of all of shares of the French company Celliande by Ista International GmbH (“Ista”). Ista specialises in building of consumption-dependent billing of energy, (...)

The German Competition Authority conditionally clears a merger in the market for the production of ready-mix asphalt following a referral from the EU Commission (FIMAG / Züblin)
Baker McKenzie (Berlin)
Germany 34 contributions 83223 visits
The operation On 26 August 2005, Finanz Industrie Management AG, Wien (“FIMAG”) notified the European Commission of its proposed acquisition of 48.7% of the shares of Ed. Züblin AG, Stuttgart (“Züblin”). 4.9% of Züblin’s shares had previously been acquired by Strabag SE, a wholly-owned (...)

The German Competition Authority clears a merger in the market for the production of asphalt mix subject to remedies, including the divestiture of a shareholding in a joint venture (Strabag / AMH)
Baker McKenzie (Berlin)
Germany 34 contributions 83223 visits
The operation The operations covered by this case comprised acquisitions by Strabag AG (“Strabag”) of businesses, shareholdings and assets involved in the production of ready-mix asphalt. Strabag is the German subsidiary (66%) of Strabag SE and plays a leading role in the road construction (...)

The UK Competition Appeal Tribunal considers the reasonableness of a decision appointing a hold separate manager to perform functions in a merger according to section 81 of the Enterprise Act 2002 (Stericycle)
University College London
United Kingdom 3 contributions 1045 visits
Facts of the case The first applicant Stericycle International LLC, a company incorporated in the US, operates in the UK through its wholly-owned subsidiary, the second applicant, Stericycle International Limited, a holding company for three further companies (collectively "Stericycle UK"). (...)

The UK Competition Authority clears a merger in the markets for railway freight haulage and wagon maintenance, subject to a divestment remedy (EWS / Marcroft)
World Economic Forum (Geneva)
Suisse 22 contributions 43263 visites
The operation On 12 September 2006, the UK Competition Commission (CC) cleared the merger between Railway Investments Limited and Marcroft Holdings Limited, subject to the condition that Marcroft divests a significant part of its outstation business. Although the merger had been notified to (...)

The Hungarian Competition Authority clears a merger in the TV markets subject to non-discriminative broadcasting conditions (Sport1 / Chellomedia Programing)
Lakatos, Köves (Budapest)
Hungary 15 contributions 34600 visits
The operation Chellomedia is the member of the Liberty group, which is owned by the Liberty Global Inc. and provides media services worldwide. Sport1 Zrt. was established by undertakings belonging to the Liberty group, however, the 75 per cent of the shares were sold. Thus, Chellomedia (...)

The UK Competition Authority clears a merger in the offshore drilling services sector, subject to divestments (Transocean / GlobalSantaFe)
Eli Lilly and Company (Greenville)
United States 3 contributions 8071 visits
The operation Transocean Inc. is the leading worldwide provider of offshore contract drilling services to the oil and gas industry. GlobalSantaFe Corporation (“GSF”) is the second largest provider of offshore contract drilling services to the oil and gas industry. On 27 November 2007 GSF (...)

The German Competition Authority clears a merger in the hospital sector subject to remedies, therefore continuing its proactive role in reshaping the national hospital sector (AKK / UKE)
Gleiss Lutz (Munich)
Allemagne 28 contributions 49250 visites
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Milbank (Munich)
Allemagne 28 contributions 49250 visites
On 8 March 2006, the German Federal Cartel Office cleared a merger in the hospital sector subject to conditions and obligations . The case concerned the acquisition of the Altona Children’s Hospital (AKK), Hamburg-Altona, by the Altona Children’s Hospital non-profit LLC (AKK gGmbH), a special (...)

The UK Competition Authority clears a merger in the market for the supply of retail pharmacy services, subject to the divestment of a large number of stores (Boots / Alliance Unichem)
Added Value Capital Partners (AVCP) (Royston)
United Kingdom 16 contributions 39638 visits
The operation Boots operates 1,423 health and beauty stores in the UK and operates pharmacies in 1,350 of these stores. It intended to acquire Alliance UniChem, an international pharmaceutical distribution company, which operates 958 pharmacies in the UK. The market(s) The OFT considered (...)

The Russian Competition Authority clears a merger in the banking sector subject to remedies (Promyshlenno-Stroitelny bank / Vneshtorgbank)
Clifford Chance (Moscow)
Russia 11 contributions 26567 visits
The operation The Russian bank OAO "Vneshtorgbank" ("Acquirer") applied for clearance of its proposed acquisition of the entire voting capital in OAO "Promyshlenno-stroitelny bank" ("Target"). The market The transaction related to the market for bank services in the Smolenskaya region in (...)

The UK Competition Authority clears a merger in the construction data market, subject to the divestment of a project information and contact data business from the target (Emap / ABI)
Serle Court (London)
United Kingdom 13 contributions 24827 visits
The operation Emap plc (Emap) is a media company, active in the sale of magazines, the ownership of local radio stations and the organisation of events and conferences. Through Emap Glenigan, it provides construction sales and marketing services (CSMS) and, more particularly, construction (...)

The UK Competition Authority clears a merger in the radio sector in Phase I subject to local asset divestment (Capital Radio / GWR)
Jinko Power (Shangai)
China 1 contribution 2922 visits
The operation Capital Radio and GWR Group are commercial radio groups operating in the UK. Capital proposed acquiring the whole of GWR’s issued share capital (para. 1, 2 and 4). The market(s) The OFT assessed the effects of the merger in relation to the provision of (i) radio advertising (...)

The German Competition Authority clears a merger in the market for stationary x-ray systems for non-destructive testing subject to remedies, including the divestment of the target’s subsidiaries in the US and Germany (GE / InVision)
Baker McKenzie (Berlin)
Germany 34 contributions 83223 visits
The operation On 24 April 2004 the Bundeskartellamt was notified of the proposed acquisition of the entire share capital of InVision Technologies, Inc., USA (“InVision”) by General Electric Company, USA (“GE”). With the notification the parties announced that they intended to divest two (...)

The UK Competition Authority clears a merger in the IT software sector subject to the divestment of a stand-alone business operating in the healthcare sector (iSOFT / Torex)
Added Value Capital Partners (AVCP) (Royston)
United Kingdom 16 contributions 39638 visits
The operation iSOFT provides software and systems to healthcare provider organisations including the NHS. Torex provides healthcare technology software and systems for healthcare providers to GPs, laboratories, hospitals and community care. Torex also provides the hardware, installation and (...)

The French Minister of Economy clears a merger subject to remedies in the market of documents and cheques (Experian Holding France / Atos Investissement)
French Competition Authority (Paris)
France 84 contributions 292570 visits
The operation The Experian company Acquired the document and cheque processing business of Atos. The market The relevant market has been defined as the cheque processing market. Remedy 1: Unenforceability of the non-competition clause The Minister noted that the transaction would (...)

The French Minister of Economy clears with structural and behavioral remedies a merger in the refrigerated body manufacturing sector (Lamberet / Chereau)
French Competition Authority (Paris)
France 84 contributions 292570 visits
The operation Through this transaction, Lamberet acquired the sole control of Chereau. Both companies offered a range of industrial vehicles specially designed for cold transport. The market(s) concerned by remedy(ies) The Minister assessed the effects of the merger in relation to the (...)

The Finnish Competition Authority clears a merger in the telecommunication services market with remedies, including divestiture, and hold separate agreements (Sonera / Telekolmio)
Grant Thornton (Helsinki)
Finland 8 contributions 17924 visits
The operation On 3 January 2003 the Finnish Competition Authority cleared, in a Phase II decision, a merger in which the Finnish telecommunications company Sonera Oyj acquired from Hämeen Puhelin Oy a 40% minority holding in Telekolmio Oy, a retailer of telecommunication services including (...)

The Slovakian Competition Authority clears a merger in the insurance sector subject to 21 structural and behavioral remedies (Allianz / Slovenská poistovna)
Čechová & Partners (Bratislava)
Slovakia 13 contributions 18532 visits
The operation By a decision dated 28 06 2002, the Antimonopoly Office of the Slovak Republic approved the acquisition of direct control of the company Allianz AG over the former state-owned insurance company Slovenská poistovna as a result of the privatization of Slovenská poistovna. Allianz (...)

The French Minister of Economy clears a merger in the food sector subject to an upfront buyer solution and a trademark differentiation agreement (Panzani / Lustucru)
French Competition Authority (Paris)
France 84 contributions 292570 visits
The operation The Minister granted conditional clearance to a merger between Panzani and Lustucru, which respectively held the first and the third position on the market for pasta. The market(s) concerned The relevant markets have been defined as the markets of dry and fresh pastas. (...)

The EU Commission adopts a decision regarding the separation of two companies in the packaging sector following the prohibition of the merger (Tetra Laval / Sidel)
DG Economic and Financial Affairs-ECFIN (Brussels)
Belgium 65 contributions 33500 visits
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European Commission - DG COMP (Brussels)
Belgium 48 contributions 13230 visits
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Financial Conduct Authority (London)
United Kingdom 80 contributions 22931 visits
"Merger Control: Main developments between 1st January 2002 and 30th April 2002"* On 30 January 2002 the Commission adopted a decision setting measures for the separation of the Swiss-based Tetra Laval from the French company Sidel through the divestiture of Tetra‘s shareholding in Sidel. (...)

The Slovakian Competition Authority clears subject to remedies the acquisition of a refinery by its local competitor aimed at limiting the number of petrol stations (MOL / Slovnaft)
Čechová & Partners (Bratislava)
Slovakia 13 contributions 18532 visits
The operation The AMO approved by the decision dated 20 09 2000 the acquisition of controlling stake of the shares of local major refinery SLOVNAFT, a.s. by the Hungarian company MOL Magyar Olaj- és Gázipari Részvénytársaság. By the Share purchase and share issue agreement, concluded (...)

The EU Commission grants a partial derogation from the suspension of the implementation of a proposed merger in the manufacture and sale of tissue products (Kimberly-Clarke / Scott Paper)
DG REGIO (Brussels)
Belgium 13 contributions 4083 visits
"Mergers Summary of the most important recent developments"* The Commission decided to initiate proceedings under the Merger Regulation in relation to the proposed merger between Kimberly-Clark Corporation and Scott Paper Company on 12 September 1995. Both companies are based in the United (...)