The European Commission has adopted a package aimed at simplifying procedures for reviewing concentrations under the EU Merger Regulation.
The package includes (i) a revised Merger Implementing Regulation (‘Implementing Regulation’), (ii) a Notice on Simplified Procedure (‘Notice’), and (iii) a Communication on the transmission of documents (‘Communication’).
The current package is designed to provide substantial advantages for businesses and advisers by streamlining and broadening the Commission’s assessment procedure for unchallenging mergers (referred to as “simple cases”).
The package aims to minimize the information needed for transaction notification and improve document transmission. It supports the Commission’s goal of reducing reporting requirements by 25%, as stated in the Communication on Long-term Competitiveness of the EU. The effective date of the new regulations is 1 September 2023.