While effecting any mergers or acquisitions of business entities in Poland one should bear in mind the regulations concerning the notification of the President of the Office for Consumer and Competition Protection of intent to merge if the total sales of entrepreneurs participating in the merger for the financial year preceding the year of the notification exceeds EUR 50 000 000 (Article 12 Section 1 of the Law of 15 December 2000 on Protection of Competition and Consumers).
The above obligation applies to:
- merger of two or more independent enterprises;
- take-over – through acquisition or taking up of shares, other securities, interests, of all or part of assets or in any other manner – of direct or indirect control over the entire or part of one or more entrepreneurs by one or more entrepreneurs;
- establishment of a joint enterprise by entrepreneurs.
The President of the Office for Consumer and Competition Protection issues its consent to concentration in the form of a decision, provided that such concentration does not trigger any material limitation of competition in the market, including, in particular, as a result of occurrence or strengthening of dominant market position. One should also bear in mind that there is a number of special regulations concerning, among others, the exercise of voting rights underlying the shares in public companies and shares in certain entities in the financial sector.
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2006-06-06 Law Firm Skarbiec, Warsaw