On March 5, 2020, the TAR Lazio annulled the ICA decision of May 20, 2019, concerning the acquisition of sole control of R2 S.r.l. (“R2”) by Sky Italia S.r.l. (“Sky”), including the measures imposed on Sky.[1]
Court of Justice Upholds Commission’s Two Fines Against Marine Harvest for Gun-jumping
On March 4, 2020, the Court of Justice dismissed Mowi ASA (formerly Marine Harvest ASA)’s appeal against two fines for having acquired control over salmon producer Morpol prior to the European Commission’s (the “Commission”) merger control approval.[1] The judgment clarifies the scope of Article 7(2) of the EU Merger Regulation (the “EUMR”), which allows an acquisition of control to be notified after the fact, if it takes place in the context of a public bid. The judgment explains that the exemption does not apply if the public bid follows an initial, separate, transaction which already gave rise to an acquisition of control. The judgment also confirms that the Commission is allowed to impose two separate fines when a transaction is implemented before the merger notification. This article updates our analysis of the General Court judgment as reported in our European Competition Report of Q 4, 2017.
FCO Conditionally Clears CinemaxX/ Cinestar Merger
On March 2, 2020, after an in-depth investigation, the FCO approved cinema operator Vue Nederland B.V. (“Vue Group”)’s acquisition of its competitor Edge Investments B.V., 2015 First Holding GmbH, and Greater Union International GmbH. [1] The approval is subject to the divestment of cinemas in six regions. The Vue Group operates 31 cinemas in Germany, 30 under the brand “CinemaxX”. The targets operate 53 cinemas in Germany, 51 under the brand “Cinestar”.
Tobii AV v Competition and Markets Authority (February 2020)
On 17 February 2020, the CAT refused Tobii’s application to appeal the CAT’s judgment of 10 January 2020, which upheld
Tobii AV v Competition and Markets Authority (January 2020)
On 10 January 2020, the CAT handed down its judgment on Tobii’s appeal of the CMA’s SLC decision and order requiring the full divestiture of Smartbox.
The Commission Reviews a Decision To Cut Jobs in a Divested Compressor Plant Following the Nidec/ Embraco Phase II Merger Approval
On January 6, 2020, the Commission announced that it would investigate job losses in a plant in Fürstenfeld, Austria, following the acquisition of Whirlpool’s refrigeration compressor business, Embraco, by Nidec, a Japanese manufacturer of electric motors, powertrains, and other related industrial components. The Commission had conditionally approved the transaction following an in-depth merger control investigation, allowing the creation of a leading player in the refrigeration sector.[1]
FCO Clears Joint Venture of Telekom and EWE for Fiber-optic Deployment Following Commitments
FCO Blocks 3-To-2 Merger of Cash Handling Service Providers
On December 18, 2019, the FCO prohibited cash handling service provider Loomis AB’s acquisition of its competitor Ziemann Sicherheit Holding GmbH (“Ziemann”).[1] Loomis AB and Ziemann are the third and second-largest cash handling service providers in a number of regional markets in the west and north of Germany behind market leader Prosegur.
Commission Conditionally Clears Battery Maker Varta’s Acquisition of Energizer’s Divestment Business Subject To Behavioral Remedies To Address Input Foreclosure Concerns
On December 3, 2019, the Commission approved German battery maker Varta AG (“Varta AG”) as a suitable purchaser of assets divested by US-based rival Energizer in its acquisition of U.S. consumer products company Spectrum Brands’ batteries and portable lighting business.[1] In a separate decision on the same day, the Commission also cleared Varta AG’s acquisition of the divested Varta-branded assets subject to behavioral remedies.[2]
The Commission Publishes Its Decision To Waive Commitments in the Steel Sector
On December 3, 2019, the Commission published its decision granting steel company Evraz Group S.A.’s (“Evraz”) request for a partial waiver of commitments it submitted as part of its acquisition of Highveld Steel and Vanadium Corporation Limited (“Highveld”). The Commission cleared the transaction in 2007, subject to divestment and behavioral commitments to address its concerns regarding anticompetitive effects in the markets for the supply of high-purity vanadium pentoxide and vanadium chemicals. The commitments also addressed concerns regarding a potential foreclosure of downstream competitors on the markets for vanadium oxides and finished vanadium products.