Serbia

Authority/Source

  • Competition Protection Commission
  • Competition Protection Act 2009 (as amended in 2013)

Mandatory / Voluntary

Mandatory

When to notify?

Concentration notification must be filed 15 days after the first of the following activities occurs: signing of an agreement, announcement / closing of a public offer or acquisition of control.

Concentration notification can also be filed in advance (when market participants show serious intent to conclude an agreement).

Threshold(s)

  • combined aggregate annual revenue of all parties to the concentration made on the world-wide market in the preceding year exceeds EUR 100 m, provided that at least one party to the concentration has revenue on the market of the Republic of Serbia of more than EUR 10 m; or
  • combined aggregate annual revenue of at least two parties to the concentration made on the market of the Republic of Serbia in the preceding year is higher than EUR 20 m, provided that at least two parties to the concentration have revenue on the market of the Republic of Serbia of more than EUR 1 m each.

Obligation on whom

  • Acquirer; or
  • Participants in a joint venture.

Consequences of failure to notify

  • fines for the party obliged to notify, which may range from EUR 500 to EUR 5,000 for each day of failure to notify.

Consequences of implementing a transaction despite obligation to suspend until clearance

  • Fines for participants in the transaction, which may range up to 10% of the total annual revenue on the market of the Republic of Serbia in the previous accounting year.
  • Imposition of divestment obligation on the participants in the transaction.

Consequences of implementing transaction despite prohibition decision

See “Consequences of implementing a transaction despite obligation to suspend until clearance”.

Stages

First Stage – one month 

The Commission must decide whether to clear the concentration or commence a full investigation within one month from the date of receipt of the complete notification.

Second Stage – four months 

The Commission has to clear, conditionally clear or oppose to the concentration within four months from the date of commencement of the full investigation.

Foreign-to-foreign mergers caught?

Foreign-to-foreign mergers will be caught if the thresholds are met.

Treatment of JVs

JVs fall into the scope of merger control. Co-operative JVs, however, are subject to stricter provisions of CA referring to forbidden agreements.

Up to date as of 1 September 2014

Contact points

This manual is intended only to provide an overview of the merger control rules and regulatory requirements in the EU, the EEA and the European countries listed. The information and views expressed in this manual are not necessarily comprehensive and do not purport to give professional advice. If you would like further information, please contact the following:

Petrikić & Partneri AOD  in cooperation with CMS Reich-Rohrwig Hainz Cincar Jankova 3

11000 Belgrade
Serbia
T +381 11 32 08 900
F +381 11 32 08 930