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Singapore: Landmark CCS decision nabs first divestiture commitments

 |  December 10, 2014

The Competition Commission of Singapore has issued a landmark decision that obtains the nation’s first-ever behavioral and divestiture commitments.

According to reports, the decision was issued in the case of the proposed acquisition of online recruitment company JobStreet Corporation Berhad by SEEK Asia Investments. Reports say this is the CCS’s first conditional merger clearance. SEEK has agreed not to enter into exclusive agreements with employer and recruiter customers and to maintain its current pricing levels. The company has also agreed to divest jobs.com.sg, an assets of JobStreet, to appease competition concerns.

Full content: Allen & Gledhill

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