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What form should merger control notification take in Argentina and what content is required?
All parties to the relevant transaction (ie, the buyer and seller or merging parties) should provide notification of an economic concentration by filing Form 1 and, if required, Forms 2 and 3. The contents of Forms 1 and 2 are detailed in Resolution 40, while Form 3 is tailor-made by the National Antitrust Commission according to the specific concentration.
Form 1 requires the following information:
- from the notifying parties – name and domicile, incorporation information, representatives and persons responsible for the preparation of the form, and details of shareholders;
- from the affected enterprises – a description of activities, latest annual reports and financial statements, organisational charts, a description of relevant and substitute products, the geographical areas in which those products are sold, details of the manufacturing process, market size and information on investigations into anti-competitive conduct or anti-dumping laws that involve the affected enterprises in any jurisdiction; and
- from the economic concentration being notified – a description and main components of the concentration, transaction documents and details of other foreign merger control authorities to which it has been submitted for approval and the status of such proceedings.
Form 2 focuses on gaining further information on the relevant product, supply-side and offer-side substitution, the relevant geographic market, qualitative and quantitative market information, production costs and efficiency gains. However, in practice, most filings – even if made under Form 1 – are subject to an additional set of questions that place it closer to a second-stage proceeding.
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