European Commission proposes reforms to merger control regime; how will this affect the aviation sector?
The European Commission has produced a white paper setting out proposals to improve and extend European Union merger control.
The white paper makes two key proposals for reform, which could have wide-ranging effects on clients in the aviation sector: (1) bringing acquisitions of non-controlling minority shareholdings into the scope of EU merger control; and (2) streamlining case referrals to make the one-stop-shop principle more efficient.
Currently, the European Union Merger Regulation (EUMR) only applies to transactions that result in the acquisition of control (i.e. the ability to exercise a decisive influence over an undertaking). As such, the European Commission is only empowered to review an acquisition of a minority shareholding when control is acquired…
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