欧盟并购条例简介

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欧盟并购条例简介

楼层#1  帖子eufang » 2018年 1月 26日 星期五 3:28 pm

现如今越来越多的华人企业走出国门,希望尝试通过并购的方式进入欧洲市场。然而,在实践中,这不是一件容易的事情,主要原因还是在于欧盟竞争法律制度的复杂。华人企业需要通过专业竞争法律师的帮助才能依照法律完成并购的程序。我们比利时时事一点通编辑部就在本期专栏介绍一部法律:关于控制企业集中化的第139/2004号条例(Council Regulation (EC) No 139/2004 of 20 January 2004 on the control of concentrations between undertakings),简称欧盟并购条例(the EC Merger Regulation)。

那么大家一定会好奇,什么是“企业集中化”(Concentrations between undertakings),这和企业兼并有什么关系呢?为了帮助大家更好的理解,比利时华人鼎盛律师行资深律师Jack Chen律师介绍到,我们需要了解 “行业/市场集中度(market concentration rate)”,它是指某行业中的规模最大的几家企业所占市场份额的综合,是对整个行业市场集中程度的测量指标,用来衡量企业的数目和相对规模的差异,是市场实力的重要量化指标,它也集中体现了市场的竞争和垄断程度。市场集中度指数越高,说明市场趋向于垄断。不难理解,欧盟需要通过对集中度进行有效的控制,才能保障统一市场(internal market)的公平竞争,避免垄断的产生。故而,不难理解“企业集中化”,就是导致行业/市场集中度变化的几种商业交易。欧盟并购条例规定了企业集中化的三种形式:(1)两个或者两个以上独立企业的兼并(merger);(2)收购(acquisition)(3)联合投资(a full function joint venture)。
符合欧盟并购法条例规定,凡是构成欧盟层面(EU Dimension)的“企业集中化”交易,必须告知欧盟委员会。由此,企业集中化交易的在财务上的规模受到明确的限制。(1)所有参与集中化的企业(目标企业和收购方)全球年度营业额之和(aggregate turnover)超过50亿欧元;(2)参与集中化的企业中至少有两家企业在欧盟范围内的年度营业额的总和超过2.5亿欧元;但是,若其中任意一家企业欧盟范围内的年度营业额的三分之二以上都是在同一个成员国中产生的情况,则不属于“欧盟层面的企业集中化”管辖。
比利时鼎盛华人律师行主任Jack Chen律师认为,欧盟并购法案明晰了对“企业集中化”的管辖范围,并且规定了企业集中化交易的强制申报程序。华人企业若想通过并购或者联合投资的方式进入欧洲市场时,需要谨慎考虑并购或者联合投资案涉及到的企业营业总额规模;如果涉及到的企业经营总额超过了上述法律规定的限额,则必须履行向欧盟委员会告知的法律义务,并且该告知行为必须在执行“企业集中化交易”之前履行,否则将面临巨额罚款。

那么从企业向欧盟委员会强制申报到后者做出决定,耗费的时间成本怎样呢?想必这也是很多企业关注的问题。在正式的申报程序开始之前,与欧盟委员会之间的非正式的预申报接触(informal pre-notification contact)是被允许和鼓励的,并且预申报涉及的内容是绝对保密的。从正式申报之日开始,欧盟委员会一般会在25个工作日内决定是否批准该项并购或者投资案(最长的决定期间可以到35个工作日)。若欧盟委员会不满意第一轮的调查结果,那么其有权启动第二阶段程序,一般需要90个工作日的时间(最长可延长至105个工作日)。

作为欧盟成员国之一,比利时对企业集中化交易的审查也是基于企业的营业额总额,但是这一额度不同于欧盟并购法案规定的额度。Jack Chen律师分析到,这里涉及到欧盟层面和成员国层面的管辖机构权限的划分:比利时反不正当竞争主管机构(Belgian Competition Authority, BCA)对于以下两种情况的“企业集中化交易”有管辖权:(1)所有参与集中化的企业(目标企业和收购方)全球年度营业额之和(aggregate turnover)超过1亿欧元(2)参与集中化的企业中至少有两家企业在欧盟范围内的年度营业额的总和超过0.4亿欧元。结合欧盟并购法案的规定来看,相关企业全球年度营业额之和超过50亿欧元或者参与集中化的企业中至少有两家企业在欧盟范围内的年度营业额的总和超过2.5亿欧元的情况,则属于欧盟委员会的绝对、排他管辖。
比利时华人鼎盛律师行资深律师Jack Chen律师再次强调,企业的扩张战略部署的重要内容之一,就是对于目标市场所在国家和地区的相关法律的熟知和掌握。欧盟就是一个典型的例子,在并购或者联合投资案执行之前,企业必须做好准备,根据自身的企业规模和营业情况,判断是否需要向欧盟委员会履行强制申报义务;以避免不必要的罚款和避免不必要的时间成本的耗费。比利时鼎盛华人律师行也具备提供欧盟并购法和竞争法专项咨询的资质和能力;更多详情欢迎和我们联系 info@bbclaw.eu
联系方式:比利时鼎盛华人律师行
微信号“比利时法律时事一点通”
网站http://bbclaw.eu
邮箱:info@bbclaw.eu
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Re: 欧盟并购条例简介

楼层#2  帖子abc1234569 » 2018年 11月 20日 星期二 4:25 am

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