A PYMNTS Company

Ukraine Antitrust Watchdog Clarifies Merger Reviews In Wartime

 |  April 5, 2022

The Antimonopoly Committee of Ukraine (AMC) published the guidance on merger control and antitrust review procedures while the martial law is in effect (Guidance).

According to the Guidance, the merger control and antitrust regimes remain in force and parties should file respective notifications to the AMC. The usual notifiable thresholds apply and there are no exemptions from the filing obligation.

The Guidance introduces minimum disclosure requirements to new filings, special procedure for their review, and clarifies possible fines for closing a transaction prior to clearance.

The review of filed notifications will be suspended until the end of the martial law. Within 3 months after the martial law ceases to apply, parties need to supplement their submissions with all other information and documents that are required under the Merger/Antitrust Regulation (to the extent these were not provided with the original notification). The AMC will resume the review after it receives all the materials, but not later than 3 months after the end of the martial law.

Because the AMC cannot arrange introduction of amendments to the Competition Law now, it is still required to impose fines for pre-clearance closing. Given that delays with the review and clearance are outside of control of the parties who would duly file notifications, the AMC will treat such cases leniently and cap fines for closing of non-problematic transactions.

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.