A leading car dealer must pay €2,000 (US$2,252.90) to charity after pleading guilty to breaking competition law by failing to get the regulator’s approval to take over a rival, reported the Irish Times.
Spirit Ford owner Armalou Holdings faced the first prosecution of its kind on Monday, April 8, for buying rival Lillis-O’Donnell Motor Company in 2015 before getting the Competition and Consumer Protection Commission’s (CCPC) approval.
Judge Anthony Halpin ordered Armalou to pay €2,000 to Dublin charity Little Flower Penny Dinners and imposed the Probation Act for one year after the company pleaded guilty to six breaches of mergers law.
Since 2014, parties must notify takeovers or mergers involving businesses with a yearly turnover of €3 million (US$3.4 million) or more to the CCPC for approval before they can go ahead. Armalou’s sales in 2015 were €157 million (US$176.8 million).
Full Content: Irish Times
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Croatian Supermarket Chain Tommy Cleared to Acquire Brodokomerc Nova
Oct 13, 2024 by
CPI
X and Unilever Settle Antitrust Dispute, Continuing Partnership
Oct 13, 2024 by
CPI
Federal Judge Allows Antitrust Claims Against GoDaddy to Proceed
Oct 13, 2024 by
CPI
Court Ruling Opens Door for Microsoft to Sell Xbox Games on Android Without Google’s Cut
Oct 13, 2024 by
CPI
Realtors Appeal to Supreme Court Over DOJ’s Investigation into Antitrust Violations
Oct 13, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Refusal to Deal
Sep 27, 2024 by
CPI
Antitrust’s Refusal-to-Deal Doctrine: The Emperor Has No Clothes
Sep 27, 2024 by
Erik Hovenkamp
Why All Antitrust Claims are Refusal to Deal Claims and What that Means for Policy
Sep 27, 2024 by
Ramsi Woodcock
The Aspen Misadventure
Sep 27, 2024 by
Roger Blair & Holly P. Stidham
Refusal to Deal in Antitrust Law: Evolving Jurisprudence and Business Justifications in the Align Technology Case
Sep 27, 2024 by
Timothy Hsieh