Thailand merger control (2019)
Produced in partnership with Weerawong, Chinnavat & Peangpanor Ltd
Thailand merger control (2019)

The following Competition guidance note Produced in partnership with Weerawong, Chinnavat & Peangpanor Ltd provides comprehensive and up to date legal information covering:

  • Thailand merger control (2019)
  • 1. Have there been any recent developments regarding the Thai merger control regime and are any updates/developments expected in the coming year? Are there any other ‘hot’ merger control issues in Thailand?
  • 2. Under Thai 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?
  • 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 tor 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 thereafter for review by the Trade Competition Commission?
  • more

A conversation with Panuwat Chalongkuamdee, partner, Parithat Chamnongsilp, associate, and Pitchapa Tiamsuttikarn, associate at Thai law firm Weerawong, Chinnavat & Peangpanor Ltd, on key issues on merger control in Thailand.

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

The Trade Competition Act B.E. 2560 (2017) (TCA) is the main legislation governing the merger control regime in Thailand.

With effect from 29 December 2018, any merger which meets the requirements under the TCA and the relevant subordinate regulations issued thereunder shall be subject to the merger clearance process as stipulated under the TCA. The application of the TCA also covers state-owned enterprises and public organizations, but exemptions have been provided for duties specified by law or Cabinet resolutions for the enhancement of national security, public benefit or the provision of utilities. The TCA does not apply to certain industries where merger control is already regulated by specific legislation for that industry (ie currently telecommunications, broadcasting and television, insurance, financial and energy sectors). Unlike the TCA, the merger regimes under the specific sectors have been established and developed since the issuance of the respective regulations.

An important point to note in relation to the merger control rules is that