The Competition Council recently published its decision n°88 relating to economic concentrations carried out and not notified to the Council.
Deliberated by the General Meeting of the Council, held last Friday, in accordance with the provisions of Article 14 of Law 20-13 relating to the Competition Council, the decision specifies that “the pecuniary sanction announced against the companies that violate the obligation to declare economic concentration operations – except for ongoing investigation proceedings against them – is set at 1% of its turnover achieved in Morocco during the last closed accounting year, without calculating any costs, to which are added, where applicable, the turnover achieved in Morocco during the same period by the acquired entity, on the basis of a set of criteria”.
Regarding these criteria, the Council emphasizes that the undeclared economic concentration operation was carried out before December 31, 2021 and that the declaration of the concentration is made by the parties concerned by the operations mentioned no later than December 31, 2022.
Likewise, the aforementioned declaration must be accompanied by a complete notification of the concentration process according to the procedure specified in Law No. 12-104 and that the parties concerned explicitly accept this conciliation procedure by means of a written message, by which they accept the non-challenge of this procedure and of the decision imposing the sanction.