Outline of Merger Filing in Serbia
12.10.2021.
Who is the merger authority?
The relevant authority for merger control assessment in Serbia is the Commission for Protection of Competition of the Republic of Serbia. The website of the Commission is accessible at www.kzk.org.rs. All merger filing decisions are published on the mentioned website.
What are the merger filing thresholds?
- the aggregate worldwide turnover of all the undertakings is at least EUR 100 million, provided that at least one of the undertakings achieved a turnover in Serbia of at least EUR 10 million; or
- the aggregate turnover in Serbia of at least two undertakings is at least EUR 20 million, and each of at least two of the undertakings achieved a turnover in Serbia of at least EUR 1 million.
Are “foreign-to-foreign” transactions subject to the merger filing?
Merger control rules apply to foreign-to-foreign mergers in case the above-mentioned filing thresholds are met.
What is the deadline for filing?
The undertakings may notify the merger as soon as they demonstrate serious intent to enter into an agreement. However, undertakings must notify the planned transaction within 15 days of the signing of a relevant transaction agreement.
What is the merger filing fee?
EUR 25,000.
What are the risks of not filing?
The undertakings that do not notify a transaction are subject to fines of up to 10% of the total annual turnover achieved in Serbia, while the Commission may in addition also enact de-concentration measures.
How long do merger proceedings last?
The Commission must clear the transaction, in summary proceedings, within one month of receipt of a complete filing. In case of investigation proceedings, the Commission must complete the investigation of a merger within four months of initiating investigative proceedings.
Can a decision on merger clearance be appealed?
Merger control decisions of the Commission can be appealed before the Administrative Court. The time limit for appeal is 30 days from the date of receipt of a decision.
