Cyprus merger control (2019)
Produced in partnership with Elias Neocleous & Co LLC
Cyprus merger control (2019)

The following Competition guidance note Produced in partnership with Elias Neocleous & Co LLC provides comprehensive and up to date legal information covering:

  • Cyprus merger control (2019)
  • 1. Have there been any recent developments regarding the Cypriot merger control regime and are there any updates/developments expected in the coming year? Are there any other ‘hot’ merger control issues in Cyprus?
  • 2. Under Cypriot merger control law, is the control test the same as the EU concept of ‘decisive influence’? If not, how does it differ and what is the position in relation to 'minority shareholdings'?
  • 3. Are joint ventures caught by the national merger control provisions (including non-structural, cooperative joint ventures)?
  • 4. What are the merger control thresholds and would a purely foreign-to-foreign transaction be caught (commenting on any ‘effects’ doctrine/policy if relevant)?
  • 5. Are there any specific issues parties should be aware of when compiling and calculating the relevant turnover for applying the jurisdictional thresholds?
  • 6. Where the jurisdictional thresholds are met, is notification mandatory and must closing be suspended pending clearance?
  • 7. Is there any discretion to review transactions that fall below the notification thresholds?
  • 8. Is it possible to close the deal globally prior to local clearance?
  • 9. Is there a deadline for filing a notifiable transaction and what is the timetable for review of a notifiable transaction?
  • more

A conversation with Ramona Livera, advocate and senior associate at Cypriot law firm Elias Neocleous & Co LLC, on key issues on merger control in Cyprus.

NOTE—to see whether notification thresholds in Cyprus and throughout the world are met, see Where to Notify.

1. Have there been any recent developments regarding the Cypriot merger control regime and are there any updates/developments expected in the coming year? Are there any other ‘hot’ merger control issues in Cyprus?

Since the enactment in June 2014 of 'The Control of Concentrations between Undertakings Law of 2014'. (Merger Control Law) there have been no further developments regarding the Cypriot merger control regime. The Merger Control Law better reflects the provisions of the EU Merger Regulation and in particular it introduced a new definition of a concentration so that one of the criteria for establishing whether a concentration is notifiable is the existence of two or more active participating undertakings in Cyprus.

The new thresholds contained in the Merger Control Law, which require at least two of the participating undertakings in a concentration to generate a turnover within the Republic of Cyprus in order for it to be notifiable to the Commission for the Protection of Competition (CPC), have had the desired effect of reducing the number of foreign to foreign transactions being notified.

No further developments are planned