How to File a Merger
1. Merger Submission
A merger is filed by submitting a duly completed Commission form 12 and paying the applicable fee. A merger filing is only deemed complete once the relevant and required information is submitted and the applicable filing fee is paid to the Commission. Incomplete information or none payment of the filing fee results in an incomplete merger filing. The Commission form 12 can be downloaded from the Commission website via a link called forms.
Notification can be done either by e-mail, submitting CD-ROM or by submitting one original hard copy file to the Commission. Where notification is done by e-mail and the relevant filing fee has been paid the date the e-mail is received or the money paid whichever comes later, shall be construed as the date of notification. When notification is done by e-mail or CD-ROM the parties should send one original hard copy file to the Commission within 7 days of making the notification.
3. Cost of filing a Merger
The merger notification fee is calculated as 0.1% of the merging parties’ combined annual turnover or value of assets in the Common Market (whichever is higher) with a cap of US$ 200 000.
4. Merger Processing
In accordance with Article 25 of the Regulations, the Commission shall examine a merger as soon as the notification is received and must make a decision on the notification within 120 days after receiving the notification. This means that if the Commission does not make a decision on the merger within 120 days, the parties should consider the merger approved. However, if the notification is incomplete, the examination period begins on the day following receipt of complete information.
After the Commission has considered a merger notification, it may make the following decisions:
- Approve the merger without any conditions.
- Approve the merger with conditions.
- Reject the merger.
The above decisions should be communicated to the parties within the 120 days the Commission has to determine a merger.