Mergers & Acquisitions

On May 20, 2019, the Italian Competition Authority (the “ICA”) issued a decision in the merger control proceedings opened in connection with Sky Italia S.r.l.’s (“SKY”) acquisition of control over R2 S.r.l. (the “Decision”).[1] Owned by Mediaset Premium S.p.A. (“MP”), R2 S.r.l. (“R2”) provides technical and administrative platform services for broadcasting by means of Digital Terrestrial Television (“DTT”).

On May 20, 2019, the Commission carried out dawn raids at the premises of two grocery retailers in France, Casino and Intermarché-Les Mousquetaires.[1] On the same day, the Belgian Competition Authority raided Carrefour and Provera, a joint purchasing venture of grocery retailers Cora, Match, and Louis Delhaize. Although the two series of dawn raids occurred simultaneously, the Commission’s press release leaves open whether the raids were coordinated.

On May 17, 2019, the French Competition Authority (the “FCA”) unconditionally approved the acquisition of Ascoval by the British Steel group. Ascoval is a steel mill specialized in the production and supply of semi-finished steel products that are necessary for the production of finished steel products. British Steel is a European steel manufacturer that is active in the production of both semi-finished and finished steel products. Given the limited overlap between the Parties’ activities, the FCA did not identify any horizontal or vertical competition concerns arising from the transaction.

On May 7, 2019, after an in-depth investigation, the FCO prohibited Heidelberger Druckmaschinen AG’s acquisition of sheet folding machine manufacturer MBO Maschinenbau Oppenweiler Binder GmbH & Co. KG (“MBO Group”).[1] Based on an extensive market investigation, with a particular emphasis on customer feedback, the FCO found that the merger would have created a dominant position for Heidelberger Druckmaschinen AG and significantly impeded competition in the market for the manufacture and distribution of sheet folding machines for industrial printing processes.

The French Competition Authority (the “FCA”) considered online and offline sales of toys as forming part of the same market in the context of its investigation of the merger of toy companies Luderix International and Jellej Jouets. The FCA thus relied once more on the methodology it applied in its Fnac/Darty merger clearance decision, when it concluded to the existence of a single market including both physical and online retail channels for the distribution of consumer electronics.

On April 8, 2019, the Commission fined General Electric (“GE”) €52 million for providing incorrect information during its 2017 investigation of GE’s acquisition of Danish wind turbine blade manufacturer LM Wind Power Holdings A/S (“LM Wind”).

On March 20, 2019, the Commission cleared Spirit’s acquisition of Asco, both being active in the supply of aircraft components.[1] The case raised no vertical or horizontal unilateral concerns. However, the Commission imposed remedies to address coordinated effects in the market for slats and slat systems[2] making this the first such case since Hutchison 3G Italy/WIND/JV in 2016.[3]

In a decision issued on February 28, 2019, the FCA authorized, subject to conditions, the acquisition of the Marie Brizard Group by Compagnie Financière Européenne de Prises de Participation (Cofepp).[1] Marie Brizard and Cofepp’s businesses overlap on the wine and spirits market. After having ruled out any risk of harm to competition on the on-trade channel (cafés, hotels, restaurants, etc.), the FCA examined the effects of the transaction on the mass retail channel.