Mandatory Merger Control Notifications of Minority Acquisitions - the Example of Germany

    View Authors March 2012

    The European Commission recently began a process to identify whether an enforcement gap exists in its current merger control system. Unlike in certain EU Member States, the current Commission framework does not allow for the review of minority acquisitions (unless they cause a change of control). The discussion brings to the fore a topic that is often overlooked but which can have significant implications – namely the notification requirements that already exist for minority acquisitions in other jurisdictions.

    Using the example of Germany, a jurisdiction that combines mandatory filing, rigorous enforcement and very low jurisdictional thresholds, this note sets out to raise awareness of the notification requirements for minority transactions today and the types of situations when corporate counsel should seek further guidance.