Overview

The Romanian Competition Law was recently amended by the Emergency Government Ordinance no 75/2010 (EGO 75/2010) which entered into force on 5 August 2010.

The main amendments brought by EGO 75/2010, which aim at further aligning Romanian competition rules with EU competition rules, are the following:

Economic concentrations – new provisions regarding notification of RCC

 The 30-day deadline for the submission of notification has been abolished. A notification may be submitted at any moment prior to the implementation of the underlying docu-mentation.
 A notification may be submitted to the RCC even prior to the conclusion of the transaction agreement if (i) the entities involved are able to demonstrate their intention of good faith in concluding an agreement or (ii) if in case of public takeover bids the entities involved have publicly expressed their intention to make such an offer.
 Obtaining clearance in simplified proceedings has been facilitated by introducing the pos-sibility for the involved parties to initiate RCC pre-merger talks with the RCC at least 2 weeks prior to the date when they intend to submit a short form notification. Such pre-merger talks are hoped to speed up the review time for unproblematic concentrations (particularly where the parties have only negligible activities in Romania, don't overlap in their activities or where the concentration concerns the acquisition of sole control by the previously jointly controlling shareholder).

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