MERGERS: AMO SR approved the merger of undertakings PENTA INVESTMENTS LIMITED, CINRE, s.r.o., and CINRE PROPERTY, s.r.o.

AMO SR approved a merger grounded in the change of quality of control over undertakings CINRE, s.r.o., and CINRE PROPERTY, s.r.o.

On 8 December 2021 the Antimonopoly Office of the Slovak Republic, the Division of Concentrations, (hereafter “the Office”) approved a merger grounded in the change of indirect joint control of undertakings PENTA INVESTMENTS LIMITED, Cyprus and MUDr. Ivan Vulev, the Slovak Republic over undertakings CINRE, s.r.o., the Slovak Republic and CINRE PROPERTY, s.r.o., the Slovak Republic into exclusive indirect control over the undertakings in question, which will be exercised by the undertaking PENTA INVESTMENTS LIMITED, Cyprus.

The Office ascertained that in the given case of change of joint control to exclusive control there is no distortion of competition and as the Act No. 187/2021 Coll. on Protection of Competition in effect since 1 June 2021 enshrined the possibility of issuing a decision in simple cases without justification, the Office used this institute in the given case.

By issuing an approving decision on the merger without justification, the Office expresses its effort to more efficiently and faster assess transactions that are non-problematic from the competition point of view and to save resources and capacities on the side of the Office as well as undertakings concerned.

The decision came into force on 13 December 2021.