{"id":556292,"date":"2021-10-19T04:11:35","date_gmt":"2021-10-19T04:11:35","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/10\/19\/eca-poking-into-mas-again\/"},"modified":"2021-10-19T04:11:35","modified_gmt":"2021-10-19T04:11:35","slug":"eca-poking-into-mas-again","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/10\/19\/eca-poking-into-mas-again\/","title":{"rendered":"ECA poking into M&#038;As again"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>The Egyptian Competition Authority (ECA) is not happy that a number of <\/strong><strong>mergers and acquisitions that<\/strong><strong> have taken place without it being notified.<\/strong> In a <a href=\"https:\/\/bit.ly\/3aKJZsA\">statement<\/a> yesterday, the competition watchdog warned businesses making EGP 100 mn in annual revenues that they must inform the ECA of M&A activity within 30 days of the transaction closing. Failing to do so could see them run afoul of the ECA Act, it said. The statement did not name the companies alleged to be in violation.<\/p>\n<p><strong><a href=\"https:\/\/alborsaanews.com\/2021\/10\/18\/1472683\">Al Borsa<\/a><\/strong><strong> cites unnamed sources as adding that the ECA has found at least 10 instances of M&A that went through without the agency being informed<\/strong>, adding that the transactions include some in the automotive and steel industry. We can\u2019t recall any recent transactions in either industry large enough to trigger the ECA\u2019s interest.<\/p>\n<p><strong>What power does the ECA have to do this<\/strong><strong>? <\/strong>The ECA Act of 2005 grants the authority the power to raise red flags about mergers and acquisitions that could be anti-competitive, but only after a transaction is concluded. Successive antitrust bosses have sought the power to approve or reject M&As before they go through. <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3582805e-b867-4076-9e5e-bff71e01f886\">Amendments to the act have been recently introduced<\/a>, but are still making their way through the House of Representatives, with the House Economics Committee having given its preliminary approval to the amendments earlier this year.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Egyptian Competition Authority (ECA) is not happy that a number of mergers and acquisitions that have taken place without it being notified. In a statement yesterday, the competition watchdog warned businesses making EGP 100 mn in annual revenues that they must inform the ECA of M&#038;A activity within 30 days of the transaction closing. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":556293,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8787],"tags":[7400,1978,549,72,7128],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-556292","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-competition-watch","tag-competition-act","tag-competition-watch","tag-egyptian-competition-authority","tag-enterpriseam","tag-ma-watch","wpautop","entry"],"acf":{"mongo_id":"7d45aa2a-514a-4bf7-81cd-431a3a499bfc","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/10\/203.jpg","photo_position":"above","related_issue":[556288],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>ECA poking into M&amp;As again - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/19\/eca-poking-into-mas-again\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ECA poking into M&amp;As again\" \/>\n<meta property=\"og:description\" content=\"The Egyptian Competition Authority (ECA) is not happy that a number of mergers and acquisitions that have taken place without it being notified. In a statement yesterday, the competition watchdog warned businesses making EGP 100 mn in annual revenues that they must inform the ECA of M&amp;A activity within 30 days of the transaction closing. 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The amendments \u2014 which got initial signoff from the chamber on Monday \u2014 grant the Egyptian Competition Authority (ECA) the power to\u2026","rel":"","context":"In &quot;LEGISLATION WATCH&quot;","block_context":{"text":"LEGISLATION WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/legislation-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/12\/125.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":547377,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/20\/house-discusses-amendments-to-competition-act\/","url_meta":{"origin":556292,"position":1},"title":"House discusses amendments to Competition Act","author":"enterpriseam admin","date":"20 June 2022","format":false,"excerpt":"House gets down to business on Competition Act amendments: The House\u2019s Economic Affairs Committee yesterday discussed giving greater powers to the Egyptian Competition Authority (ECA) underproposed amendments to the Competition Act. The amendments, which have been up in the air since last year, will regulate mergers and acquisitions and place\u2026","rel":"","context":"In &quot;LEGISLATION WATCH&quot;","block_context":{"text":"LEGISLATION WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/legislation-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/11\/HouseofReps-1600px-fx-e1606665898323.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":546853,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/31\/a-level-playing-field\/","url_meta":{"origin":556292,"position":2},"title":"A level playing field?","author":"enterpriseam admin","date":"31 May 2022","format":false,"excerpt":"PM spearheads fair competition push to boost privatization plans: Prime Minister Mostafa Madbouly will head a new ministerial committee to shore up competition policy and ensure all businesses are playing on a level field, according to a cabinet statement. The committee will work with the Egyptian Competition Authority (ECA) to\u2026","rel":"","context":"In &quot;COMPETITION WATCH&quot;","block_context":{"text":"COMPETITION WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/competition-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/5\/413.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":596961,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/14\/eca-extends-technical-examination-period-of-uber-careem-merger\/","url_meta":{"origin":556292,"position":3},"title":"ECA extends technical examination period of Uber-Careem merger","author":"enterpriseam admin","date":"14 July 2019","format":false,"excerpt":"ECA gives itself more time to rule in Uber-Careem merger: The Egyptian Competition Authority (ECA) has extended the period during which it is studying Uber\u2019s recent USD 3.1 bn acquisition of Careem by an additional 60 days, according to an ECA statement. The watchdog originally said it would take 60\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":547621,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/29\/business-community-holds-its-breath-as-competition-authority-jockeys-for-more-power-to-regulate-ma\/","url_meta":{"origin":556292,"position":4},"title":"Business community holds its breath as competition authority jockeys for more power to regulate M&#038;A","author":"enterpriseam admin","date":"29 June 2022","format":false,"excerpt":"WHAT\u2019S GOING ON with amendments to the Competition Act? Debate of legislation that would give the Egyptian Competition Authority (ECA) more power to regulate M&A is ratcheting up in the House of Representatives. 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