When is a transaction notifiable?
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A transaction can be notifiable in several countries, as well as to the European Commission. However, not all transactions are subject to the merger control regime.
THE FOLLOWING RULES APPLY IN NORWAY
The following transactions are subject to merger control:
- mergers between previously independent undertakings or parts of undertakings,
- acquisition of control over one or more undertakings, and
- establishment of a joint venture which, on a lasting basis, performs all functions of an autonomous economic entity (full-function joint venture).
Such transactions are called concentrations.
Further, the concentration must meet the following turnover thresholds:
- a combined turnover of the undertakings over NOK 1 billion the last financial year, and
- a turnover of over NOK 100 million for each of at least two of the undertakings the last financial year.
The NCA could, however, also intervene in non-notifiable transactions.
Please note the following
The parties should clarify at an early stage whether the transaction is notifiable, as the merger control procedure could have a major impact on the timeline of the transaction.
The negotiations of the transaction agreement should reflect any competition law risk that may occur.