The NMa has imposed total fines of EUR 1,302,000 for failure to notify in two (unrelated) concentration cases.1 It is the second time the NMa has used its fining powers since these were expanded in October 2007.2 To compare: the European Commission has imposed fines in three cases for failure to notify3 since the entry into force of the EU Merger Regulation in 1990.4
In the first case, the NMa discovered through media coverage that NPM Capital neglected to notify its acquisition of shares of Buitenfood, a holding company of several frozen-food companies. This resulted in a fine of EUR 580,000 on NPM Capital as purchaser and EUR 15,000 on Driesprong Participaties as seller of Buitenfood. In addition, the NMa imposed an order subject to periodic penalty payments on NPM Capital, to notify the acquisition to the NMa within four weeks.
In the second case, the long overdue filing by holding company Sibco and raw-materials trading company Trafigura of joint control over ethanol trading company Alcotra led to a fine of EUR 118,000 for Sibco and of EUR 589,000 on Trafigura. Incidentally, the NMa’s first fine on the basis of this increased fine level was lowered by EUR 292,500 for the purchaser and EUR 69,500 for the seller in administrative appeal last year.5