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

The Act No 187/2021 on Protection of Competition, effective on 1 June 2021, governs the updated merger control regim in the Slovak Republic. Some amendments and supplements to legislative acts prior the adoption of the 2021 Competition Act are still in force. In addition, the EU Merger Regulation applies. …

Context

The Act No 187/2021 on Protection of Competition, effective on 1 June 2021, governs the updated merger control regim in the Slovak Republic. Some amendments and supplements to legislative acts prior the adoption of the 2021 Competition Act are still in force. In addition, the EU Merger Regulation applies.

A concentration is defined in Article 7 of the Act as either :

- a merger or an amalgamation of two or more independent undertakings, or ;

- an acquisition of direct or indirect control over an undertaking.

In the first scenario, what counts is the economic merger, especially if joint economic management can be identified, regardless of the maintaining of legal independence of each entity. In turn, the “ control ” concentration focuses on the possibility to exercise decisive influence over the activity of the undertaking, especially through : ownership rights or other rights, rights, contracts or other facts allowing the exercising of a decisive influence over the composition, voting or decisions of the undertaking's bodies. In addition, the creation of a joint venture qualifies as a concentration if the newly born entity performs all functions of an autonomous economic entity.

Any concentration is subject to review by the Antimonopoly Office (the « Office ») when certain tresholds are met. However, some operations are excluded from the concentration definition by law, such as the temporary acquisition by banks, insurance companies of financial institutions of securities with a view to reselling them so long as they do not exercise control to influence the competitive behavior of the controlled undertaking.

Concept of concentration

A concentration is subject to control by the Office if one of the two positive thresholds defined by Article 8 is met.

Thus, if the combined turnover of the undertakings in the Slovak Republic is at least 46 million euros and each of the undertaking has a net turnover in the Slovak Republic of at least 14 million euros, the concentration is subject to control (Article 8.1.a).

On the alternative, if the net turnover in the Slovak Republic of at least one of the undertakings (but not the acquirer of control) is at least 14 million euros and the worldwide net turnover of at least one of the undertakings is at least 46 million euros, the concentration is subject to control (Article 8.1.b).

For each undertaking, the turnover taking into account is the aggregated turnover. This means that the turnovers of the legal entity concerned as well as the ones of all entities controlled by it must be added up. Further details on the calculation of aggregated turnover to use in computing the thresholds are provided in Articles 8.2 to 8.5.

Thresholds

Pursuant to Article 11, the test applied by the Office in reviewing a concentration is whether it significantly impede effective competition in the relevant market, in particular as a result of the creation or strenghtening of a dominant position.

Global Competition Law

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Les notions juridiques connexes

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