MERGERS: AMO SR approved the concentration grounded in acquisition of exclusive control by the Ministry of Economy of the Slovak Republic over Slovenský plynárenský priemysel

04.02.2014
AMO SR approved the concentration grounded in acquisition of control by the Ministry of Economy of the Slovak Republic, Mierová 19, 827 15 Bratislava („ME SR“), over the enterprise of the undertaking Slovenský plynárenský priemysel, a.s., Mlynské nivy 44/a, 825 11 Bratislava („SPP“) and over the undertakings which will be controlled by this undertaking within new reorganization (Nadácia SPP, Ekofond, n.f., SPP CNG, s.r.o. and SPP CZ, a.s.).

Concentration of mentioned undertakings should be realized based on General Agreement having been concluded in the context of planned reorganisation of the group of SPP company approved by the Government of the Slovak Republic. According to new reorganization of SPP the companies Nadácia SPP, Ekofond, n.f., SPP CNG, s.r.o. and possibly also SPP CZ, a.s. will be included. Other companies in which SPP owns share capital are not subject to acquisition of control by ME SR. Within the reorganization the ownership interest of these companies will be incorporated into the company SPP Infrastructure, a.s., which will be separated from SPP and ME SR will not have a control in it.

ME SR is a central state administration body governed by the Minister who is also responsible for its activities. ME SR itself does not realize business activities. It acts in the relevant markets through various undertakings being controlled directly or indirectly.

Main subject of activity of SPP is a supply of gas and since 2012 SPP acts also in the area of electricity supply.

In case of assessed concentration the Office investigated also its impact on competition conditions mainly in areas where the activities of ME SR currently or potentially overlap with the activities of company SPP. It refers mainly to activities of companies Západoslovenská energetika, a.s. („ZSE“) and Východoslovenská energetika a.s. („VSE“),

The Office also dealt with the horizontal and vertical impacts of concentration on the competition conditions, as well as with the possible coordination of subjected undertakings in the following areas: 
- wholesale supplies of gas,
- retail supplies of gas to end customers,
- production and wholesale supplies of electricity,
- retail supplies of electricity to end customers.

After evaluating all available documents and information, the Office concluded that the concentration at case would not significantly impede effective competition and approved the concentration.

The decision is not valid yet.
Last update:04.02.2014