MERGERS: AMO SR stopped an administrative proceedings in the matter of a merger of the undertakings J&T FINANCE GROUP SE, Ladislav Bödők and Panta Rhei, s.r.o.

18.05.2020
On 27 April 2020 the Antimonopoly Office of the Slovak Republic, the Division of Concentrations, (hereafter "the Office") stopped an administrative proceedings in the matter of a merger grounded in the acquisition of the joint control of the undertakings J&T FINANCE GROUP SE, the Czech Republic (hereafter "JTFG") and Ladislav Bödők (hereafter "LB") over the undertaking Panta Rhei, s.r.o., the Slovak Republic (hereafter "Panta Rhei") (hereafter also "the merger").
 
The merger in question was notified to the Office late and the exercise of the rights and obligations arising from it was prematurely implemented, for which the Office, by the decision No. 2018/NIK/POK/3/34 of 16 October 2018 imposed a fine on the acquirers of the control for the breach of the obligation according to the Article 10 Paragraph 7 of the Act on Protection of Competition (hereafter "the Act") and for breach of the prohibition according to the Article 10 Paragraph 11 of the Act. During the administrative proceedings for assessing the merger in question, the notifiers of the merger submitted information which showed that the joint control of the undertakings mentioned over Panta Rhei, which had been created and existed since 10 August 2012, had ceased in the meantime.
 
The fact in question was not made clear to the Office at the time when the merger was notified, but it was only on the basis of further inquiries from the Office that the undertaking JTFG definitely clarified the issue of the control in the company Panta Rhei. In this connection, the creation of a new merger related also to the undertaking Panta Rhei was notified to the Office, specifically on 6 June 2019 the Office received the notification of a merger grounded in the acquisition of the joint control of the undertakings Ing. Patrik Tkáč (hereafter "PT") and LB over the undertaking Panta Rhei and also in the acquisition of the joint control of the undertakings PT, LB and Ing. Igor Mrva over the undertaking Ikar, a.s., the Slovak Republic. The Office has been currently assessing this newly notified merger.
 
Based on the above mentioned facts, the Office came to the conclusion that according to the Article 32 Paragraph 2 Letter c) of the Act it will stop the administrative proceedings for the merger of the undertakings JTFG, LB and Panta Rhei.
 
The decision came into force on 13 May 2020.
Last update:18.05.2020