German Merger Control: Introduction of a “Size-of-Transaction” Test for Merger Notifications in Germany

Sullivan & Cromwell LLP - 14 July 2016

On 1 July 2016, the German Federal Ministry for Economic Affairs (Bundeswirtschaftsministerium) published a proposal for the amendment of the German Act against Restraints of Competition (Gesetz gegen Wettbewerbsbeschränkungen) that will supplement (and partially replace) the current filing thresholds with a EUR 350 million size-of-transaction test. The proposed change is likely to increase significantly the number of transactions that require pre-closing approval under the German merger control rules.