M/18/045 - CDC / Netgem / VITIS (JV)

Transaction details

The acquisition by La Caisse des Dépots et Consignations of a jointly-controlling interest in a joint venture (VITIS) controlled by Netgem S.A. has been cleared by the Competition and Consumer Protection Commission (the -�CCPC-�). In May 2018, the parties informed the CCPC that this acquisition had been completed in November 2016.

The Competition Act 2002, as amended (the -�Act-�) requires that proposed mergers or acquisitions between businesses operating in the State, which meet certain turnover thresholds specified in section 18(1) of the Act, must be notified to the CCPC. On the basis of the information provided to the CCPC by the parties, it appears to the CCPC as though the transaction should have been notified to the CCPC before being put into effect in accordance with the requirements of section 18(1) of the Act.

The CCPC reserves its right to commence an investigation into a suspected breach by the undertakings involved in the transaction of the notification requirements under section 18(1) of the Act, which is an offence under section 18(9) of the Act.