The Spanish National Competition Commission (“NCC”) has approved in second phase, subject to remedies, the acquisition by Distribuciones Generales Boyacá, S.L. (“Boyacá”) of several companies active in the distribution market of periodical publications.

The commitments accepted by the NCC establish that Boyacá must maintain the sale outlets and the commercial and service terms applied to date by the acquired distributors for five years, although it is entitled to make the necessary adjustments to increase efficiency.

Similarly, other mechanisms have been established to guarantee transparent, objective and non-discriminatory conditions in the services offers made by Boyacá to new customers, as well as to avoid access to sensitive information among editors.

Finally, Boyacá must amend its exclusive distribution contracts with Grupo Prisa and Grupo Unidad Editorial by limiting their term to five years, eliminating the penalties in the event of non-renewal and the preference clauses, and confining their purpose to the products that are currently being distributed. An independent trustee will ensure the fulfilment of these commitments, which will be applicable for five years.