The Competition Council recently imposed a KM656,000 fine (approximately €330,000) on Coca-Cola HBC B-H, BIMAL dd and Banjalucka pivara ad for breach of a notification deadline (approximately €80,000) and implementing a transaction without obtaining council clearance (approximately €250,000).
The concentration concerned the establishment of a joint venture by three companies in the management of packaging waste market. The parties entered into a joint venture agreement on April 14 2011 and formed a new joint venture company, EKOPAK doo. EKOPAK was established and registered under the laws of Bosnia and Herzegovina on April 28 2011.
On May 25 2013 the parties jointly submitted a merger notification informing the council of the establishment of a joint venture company. As the filing deadline was 15 days following the signing the of the agreement, the notification was submitted with a two-year delay.
The council finally cleared the concentration. It found no negative effects on competition, and that it would in fact lead to lower prices for final consumers and better-quality waste management and environmental protection.
The decision sends a clear message that all market participants should be aware that there is zero tolerance for implementing transactions before obtaining council clearance.
For further information on this topic please contact Srdjana Petronijevic at Moravcevic Vojnovic i Partneri in cooperation with Schoenherr by telephone (+381 11 320 26 00), fax (+381 11 320 26 10) or email (firstname.lastname@example.org). The Moravcevic Vojnovic i Partneri website can be accessed at www.schoenherr.rs.