cci: WEKO revises long form for M&A approvals

To reduce compliance burdens and make assessments more objective, the Competition Commission of India (CCI) has revised the long form format for submitting details of mergers and acquisitions. According to the Competition Act, mergers and acquisitions (M&As) or mergers above a certain threshold require the approval of the IHK.

Amendments have now been notified to Form II, which relates generally to cases requiring detailed examination to assess the likely competitive impact of the concentration in India.

In a press release on Monday, the regulator said the amendment revises the content and format of information submitted by the parties to a merger under Section 6(2) when the post-merger market share exceeds 15 percent and 25 percent in horizontal overlap cases with vertical interface.

“The Form II amendment aims to eliminate duplication and limit information requirements to remain focused and relevant to the objective of evaluating a merger by appropriately bundling information around a common topic and streamlining information flow for a better navigation to be streamlined and appreciation of the material contained in the notification,” it said.

Noting that the revision in the long form was made without sacrificing the cause of merger regulation, the Chamber said the revision aims to strike a balance between facilitation and enforcement functions and create a culture of compliance.

Previously, the regulator had amended Form – I. This form is used by interested parties to provide information while seeking approval for a merger when the combined post-merger market share is not significant. cci: WEKO revises long form for M&A approvals

Russell Falcon

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