Vertical effects : The General Court of the European Union confirms the Commission’s analysis of vertical effects in relation to a merger between two Polish oil refiners (Polwax)

This General Court judgment rejected a third-party challenge against the European Commission’s clearance of a merger between two Polish oil refiners : KPN Orlen and Grupa Lotos. Background : the merger between two Polish oil refiners The Commission’s merger review process had been long and arduous, with the covid-19 pandemic breaking out right in the middle of the investigation. Ultimately, however, the European Commission gave the deal the green light, subject to remedies (Case M.9014 – PKN Orlen / Grupa Lotos, decision of 14 July 2020). The merger was not uncontroversial, and the Commission’s decision had to address numerous thorny issues, such as whether the two Polish oil refiners were sufficiently independent from the Polish state to be considered as separate entities. But the