Merger Control Reform

On 12 November 2015 the draft law reforming merger review passed the 1st reading in the Parliament. The most notable amendments include: remodeling of notifiability thresholds (2 alternative tests): the combined parties' worldwide value of assets or turnover exceeded EUR 30 million and the value of Ukrainian assets or turnover of each of at least two parties exceeded EUR 4 million – both in the last financial year; or Ukrainian turnover of at least one party exceeded EUR 8 million* and worldwide turnover of at least one other party exceeded EUR 100 million – both in the last financial year;
* important: reportedly, this test is not finally shaped and the proposed plan for the 2nd reading is to link the local turnover to the target elimination of the market share-based notifiability test as ineffective; introduction of consultations at the pre-filing and the 15-day 'preview' stages; introduction of a simplified and fast-track 25-day review procedure for transactions where: only one party is active in Ukraine; or parties' combined market shares do not exceed 15% on the overlapping markets or 20% on vertically related markets; clarification of rules applicable to remedies; increase of the filing fees.

For further information please contact Asters' partners Igor Svechkar and Alexey Pustovit.