Since June 2017 and November 2017, so-called transaction value thresholds apply in German and Austrian merger control law.
In Germany, there is a requirement to declare if the value of the consideration exceeds EUR 400 million, the target company carries out significant domestic activities, the companies involved generate more than EUR 500 million in sales worldwide and another company generates more than EUR 25 million in domestic sales Has. In Austria, there is a requirement to declare if the value of the consideration for the merger is more than EUR 200 million, the number of companies to be acquired is substantial in Germany, the companies involved have a worldwide turnover of more than EUR 300 million and the companies involved domestic sales of more than EUR 15 million.
The transaction value thresholds are a supplementary, subsidiary threshold to the turnover thresholds.
The competition authorities of the two countries, the German Federal Cartel Office and the Austrian Federal Competition Authority, published a draft of a common guideline on 14 May 2018, the final version of which is intended to increase legal certainty in the application of new transaction value thresholds. Taylor Wessing commented on the draft guideline as part of the public consultation phase.
Our opinion can be found here .