The Cypriot Competition Authority fines two undertakings that failed to notify their merger (Excel-Serve Management / IFG)

CYM7 Excel-Serve Management Ltd/IFG Group Plc Case No. 8.13.012.32 15.02.13 NCA Background The Decision of the Cyprus Commission for the Protection of Competition (“CPC”), relates to the acquisition of 100% of the shareholding of Excel-Serve Management Limited (“Excel-Serve”) by IFG Group Plc (“IFG”) back in June 2008. As noted in the Decision of the CPC, the said concentration was not notified to the CPC at the time it was agreed. After receiving information in the course of 2012 at the “own initiative” of the undertaking that had the obligation to notify the transaction at the time, the CPC decided in early 2013 to send a Statement of Objections to that

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Polyvios Panayides, The Cypriot Competition Authority fines two undertakings that failed to notify their merger (Excel-Serve Management / IFG), 15 février 2013, e-Competitions February 2013, Art. N° 57347

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