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Competition body’s merger figure unchanged
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03 Jan 2024 / regulation Print

Competition body’s merger figure unchanged

The competition watchdog was notified of 68 mergers last year, and required commitments from parties to clear deals in four cases.

The 2023 figure was unchanged from 2022, according to the annual merger report from the Competition and Consumer Protection Commission (CCPC).

All mergers and acquisitions that reach certain financial thresholds must be notified to the CCPC, which then examines whether any deal could result in "a substantial lessening" of competition in markets for goods and services in the State.

Car-park deal

The CCPC was involved in five full, or 'Phase 2', investigations during the year, with three completed. It also reviewed four media mergers.

Late last year, it also issued a preliminary assessment of the DAA’s proposed acquisition of the site of the former QuickPark car park on the Swords Road in Dublin.

According to the report, the commission issued determinations on non-extended 'Phase 1' investigations in an average of eight days.

Greater powers

In the four cases where parties involved in a deal gave commitments to the CCPC, three involved the disposal of businesses or assets, while one included a commitment not to exchange commercially sensitive information.

“As well as progressing or concluding a number of Phase 2 merger investigations, the CCPC updated our policies and procedures to reflect legislative developments under the Competition (Amendment) Act 2022,” said commission member Úna Butler.

The legislation gives the CCPC increased powers – including the power to issue fines for breaches of Irish and EU competition law.

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