Global Competition Law is primarly a practitioner's guide presenting the most salient aspects of the major competition laws country by country, giving an overview of their structure and most charasteristic elements.
Global Competition Law also provides insight into possible future developments in the field.

Global Competition Law

Before 30 January 2014, there were two forms of notification, a pre-merger filing and a post-completion notification. Federal Law No 423-FZ of 28 December 2013 abolished the latter, except in very specific cases (see below). There are no specific time-limits to file for prior notification. However, a transaction must be notified and cleared before closing and a clearance is valid for a period of 1 …

Merger notification

Before 30 January 2014, there were two forms of notification, a pre-merger filing and a post-completion notification. Federal Law No 423-FZ of 28 December 2013 abolished the latter, except in very specific cases (see below). There are no specific time-limits to file for prior notification. However, a transaction must be notified and cleared before closing and a clearance is valid for a period of 12 months. A special decree of the FAS provides for the form of the notification. The FAP introduced an electronic submission procedure and the possibility of entering into pre-notification contacts with the FAS.

An exemption from prior notification is provided for mergers reaching the notification thresholds where one party already holds at least 50% voting rights in the other undertaking (intra-group mergers). Before the 2013 amendment, parties were nonetheless under the obligation to file a post-completion notification. This is no longer necessary since 30 January 2014. However, intra-group mergers which cannot qualify for a derogation may either be pre-notified or notified after completion of the transaction if any of the parties informs the FAS of the structure of the group one month before completion. The 2022 guidelines contain clarification on the type of documents and information to be provided when pre-notifying. 

The FAS must normally consider a transaction and issue a written decision within one month of receiving the notification. Since the FAP, the FAS is under the obligation to make the filing public and to invite third parties to submit comments on the impact on competition of the relevant transaction as of phase I of the control. If the FAS finds that the transaction may lead to a restriction of competition, it may extend the review by two additional months and request additional information and documents and to publish information on the case on its website. The FAS may also extend the deadline by imposing certain conditions to be fulfilled within a maximum of nine months, after completion of which the FAS takes a final decision on the transaction. If after the first 10 days following submission of a notification the FAS has not returned it, the notification is considered as complete and accepted by the FAS. If the review period is expired and the FAS has not made any decision, it does not mean that the transaction is automatically cleared.

Filing fees for pre-merger control are set at RUB 35,000 (US$ 564).

The FAS has broad powers to obtain any useful information to determine whether the transaction may lead to a restriction of competition or not. It may initiate and carry out scheduled or unscheduled inspections, request additional information.

Third parties may be involved in the review procedure. Interested parties can find general information on pre-merger filings displayed by the FAS on its official website. They can then suggest any information or opinion about the impact of such transactions on competition in the Russian market.

Commercially sensitive information, which is confidential, must be handed to the FAS but is protected by special legislation against public disclosure. The FAS cannot disclose confidential information obtained while exercising its powers.

According to the Russian competition legislation, it is not possible to negotiate remedies with the FAS but in practice there is a possibility to discuss and cooperate with it during the filing review procedure. Some remedies may be adopted after the completion of the merger: they aim to promote competition; other remedies shall be enforced before the completion: they aim to eliminate the restriction of competition that may occur if the transaction is completed.

The parties can refuse to meet the conditions issued by the FAS but if they engage in the proposed action without obtaining any consent, they might be liable to sanctions.

After reviewing an application, the FAS may:

- approve the transaction without any limitations ;

- approve the transaction and issue binding prescriptions imposing obligations on the parties with the aim to promote competition ;

The consent given by the FAS for a special transaction is valid for one year.

Global Competition Law

1213. Merger notification

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Les notions juridiques connexes

1213. Merger notification

Demandez un accès gratuit au contenu exclusif Livv – juristes d’entreprise

Les notions juridiques connexes

Demandez un accès gratuit
au contenu exclusif Livv – juristes d’entreprise