Notícias
Justice Department and FTC Submit Joint Comment to FERC Explaining that Common Ownership by Investment Companies Can Raise Competition Concerns
Thursday, April 25, 2024Share
For Immediate Release
Office of Public Affairs
The Justice Department’s Antitrust Division and Federal Trade Commission (FTC) today jointly submitted a public comment to the Federal Energy Regulatory Commission (FERC) urging it to consider the competitive risks of common ownership when assessing acquisitions involving less than a controlling interest in competing firms.
As the Justice Department and FTC’s joint comment explains, competition is a core component of FERC’s “public interest” analysis in its Section 203 review. The joint comment states that partial acquisitions, including acquisitions involving common ownership in which individual investors hold non-controlling interests in firms that have a competitive relationship that could be affected by those joint holdings, can lessen competition in three ways. First, partial acquisitions can give the partial owner the ability to influence the competitive conduct of the target firm. Second, partial acquisitions can reduce incentives for firms to compete even absent direct control or influence. Third, partial acquisitions can facilitate an anticompetitive information exchange between competing firms by giving them or their common owners access to non-public, competitively sensitive information.
FERC is requesting public comments as it reviews its current policy on financial investment company ownership of electric utilities, specifically regarding FERC’s blanket authorizations for investment company ownership of public utilities under Section 203 of the Federal Power Act. Under its current policy, FERC assumes that certain transactions are in the public interest and grants blanket authorizations approving the transactions.
The agencies applaud FERC for undertaking this inquiry and encourage FERC to consider the competitive consequences of common ownership in deciding whether to revise its current blanket authorization policy.
Updated April 25, 2024
Topic
ANTITRUST
Component
Antitrust Division Press Release Number: 24-510
Investigation into Google’s ‘Privacy Sandbox’ browser changes
The CMA has accepted commitments offered by Google that address the CMA’s competition concerns resulting from investigating Google’s proposals to remove third-party cookies and other functionalities from its Chrome browser. From:Competition and Markets Authority
Published 8 January 2021Last updated26 April 2024 — See all updates
Case type: CA98 and civil cartels
Case state: Open Market sector:Communications Opened:7 January 2021
Contents
- Case timetable
- Change log
- Case information
- Quarterly reports
- Industry testing
- Monitoring Trustee
- Decision to accept binding commitments
- Consultation on modified commitments
- Consultation on commitments
- Case launch
- Notes
- Personal data
- Contacts
Ventilation deal could increase construction prices
The CMA has found that Lindab’s acquisition of HAS-Vent could increase prices for installers and contractors. From: Competition and Markets Authority Published 26 April 2024
Following an initial Phase 1 investigation, the Competition and Markets Authority (CMA) has found that Lindab International AB’s (Lindab) purchase of HAS-Vent Holdings Limited (HAS-Vent) raises competition concerns in relation to the supply of circular ducts and fittings in England and Wales.
Lindab is a ventilation company primarily active in the UK through subsidiaries Lindab Limited (Lindab UK) and Ductmann Limited (Ductmann), which both manufacture and distribute ventilation system products, including circular ducts and fittings. HAS-Vent is also active in the manufacture and distribution of ventilation system products, including circular ducts and fittings, in England and Wales.
The CMA has found that the deal combines the current market leader and second largest supplier of circular ducts and fittings, and that following the merger, the combined business would likely supply around half the market, with all other competitors being considerably smaller.
Having reviewed the evidence, including internal documents and evidence from customers and competitors, the CMA found that the companies compete closely to supply customers in England and Wales. The resulting loss of a strong competitor could therefore increase prices for installers and contractors, and the overall costs in the building of commercial projects such as office spaces, schools and hospitals.
Sorcha O’Carroll, Senior Director for Mergers at the CMA, said:
We’re concerned this deal between Lindab and HAS-Vent may reduce competition in England and Wales, leading to higher prices for construction projects.
It is now up to Lindab and HAS-Vent to offer solutions to our concerns, otherwise this case will proceed to a more in-depth Phase 2 investigation.
Lindab and HAS-Vent now have 5 working days to offer solutions which fully resolve the CMA’s competition concerns, otherwise it will refer the deal to an in-depth Phase 2 investigation.
More information can be found on the Lindab / HAS-Vent case page.
Notes to editors:
- Lindab is a ventilation company headquartered in Sweden and listed on the Nasdaq Stockholm exchange. In the UK, Lindab is primarily active through subsidiaries Lindab Limited (Lindab UK) and Ductmann Limited (Ductmann), which both manufacture and distribute ventilation system products, including ventilation ducts and fittings.
- HAS-Vent is a UK company headquartered in Wombourne, also active in the manufacture and distribution of ventilation system products, including ducts and fittings, in England and Wales.
- For media enquiries, contact the CMA press office on 020 3738 6460 or press@cma.gov.uk.
Metcash’s proposed acquisition of Superior Food Services not opposed
Date
26 April 2024
Topics
The ACCC will not oppose Metcash Trading Limited’s (Metcash) (ASX:MTS) proposed acquisition of wholesale food distributor SFG Group Holdings Pty Ltd, trading as Superior Food Services (Superior).
Superior purchases a wide range of food products from suppliers and distributes them to food service businesses such as restaurants, cafes, hotels and clubs, petrol and convenience stores, and institutions such as hospitals.
Metcash is a wholesale distribution company which supplies grocery and fresh foods to independent supermarkets and retailers. Metcash also operates Campbells, which also wholesales food and food adjacent products to retailers.
The ACCC’s review focused on how closely Metcash and Superior compete in the wholesale supply of food products to food service customers, how the acquisition may affect suppliers or increase Metcash and Superior’s buyer power, and the likely impact of the acquisition on prices, product range and quality.
“We conducted extensive market inquiries with customers, suppliers, competitors and industry associations. We ultimately found that the transaction would not be likely to substantially lessen competition,” ACCC Commissioner Stephen Ridgeway said.
Although both Metcash and Superior supply food products, market feedback indicates that they do not compete closely for customers.
Superior primarily sells and distributes products that are not suitable for direct retail sale, and Metcash does not have the product base to compete in any significant way for food service customers.
The merged entity will continue to be constrained in the supply of food service products by established competitors such as Woolworths-PFD Food Services and Bidfood.
“We found that Metcash and Superior make up a very small percentage of the overall demand from food suppliers, and that suppliers would continue to have many other alternative routes to market,” Mr Ridgeway said.
More information on this review can be found here: Metcash Trading Limited – SFG Group Holdings Pty Ltd
Background
Metcash is an ASX-listed wholesale distribution company with a food division that supplies dry grocery and fresh foods to independent supermarkets and convenience stores, including IGA, Foodland, Foodworks and Lucky 7 brands.
Metcash also operates Campbells, which supplies food and food adjacent products to grocery and convenience retailers, and remote communities through its network of 14 warehouses.
Superior is a privately owned food services distributor and supplies a wide range of dry, chilled, frozen, meat, small goods and seafood lines to food service businesses in all states and territories in Australia (excluding the Northern Territory). It trades under Superior Food Services, Mooloolah River Fisheries, Kay’s Meats, Global Meats and Sealanes.
‘food adjacent products’ refers to non-food items such as general merchandise, health and beauty products and tobacco.
Release number
49/24
General enquiries
Contact us to report an issue or make an enquiry.
Media enquiries
Media Team – 1300 138 917, media@accc.gov.au
FTC, DOJ Submit Joint Comment to FERC Warning of Common Ownership Competition Risks in the Public Utilities Industry
Tags:
Today, the Federal Trade Commission and the Department of Justice jointly submitted a public comment to the Federal Energy Regulatory Commission (FERC) urging it to consider the competitive risks of common ownership when assessing acquisitions involving less than a controlling interest in competing firms.
FERC is requesting public comments as it reviews its current policy on financial investment company ownership of electric utilities, specifically regarding FERC’s blanket authorizations for investment company ownership of public utilities under Section 203 of the Federal Power Act (“FPA”). Under its current policy, FERC assumes that certain transactions are in the public interest and grants blanket authorizations approving the transactions.
As the FTC and DOJ’s joint comment letter explains, competition is a core component of FERC’s “public interest” standard in its Section 203 review.
The FTC and DOJ’s comment states that partial acquisitions, including common ownership where individual investors hold non-controlling interests in firms that have a competitive relationship that could be affected by those joint holdings, can lessen competition in three ways. First, partial acquisitions can give the partial owner the ability to influence the competitive conduct of the target firm. Second, partial acquisitions can reduce incentives for firms to compete even absent direct control or influence. Third, partial acquisitions can facilitate an anticompetitive information exchange between competing firms by giving them or their common owners access to non-public, competitively sensitive information.
The agencies applaud FERC for undertaking this inquiry and encourage the FERC to consider the competitive consequences of common ownership in deciding whether to revise its current blanket authorization policy.
The Commission voted 5-0 to submit the joint comment to FERC.
The Federal Trade Commission develops policy initiatives on issues that affect competition, consumers, and the U.S. economy. The FTC will never demand money, make threats, tell you to transfer money, or promise you a prize. Follow the FTC on social media, read consumer alerts and the business blog, and sign up to get the latest FTC news and alerts.
Contact Information
Media Contact
Office of Public Affairs
Decisões
CADE
Ato de Concentração nº 08700.002543/2024-61
Requerentes: Rio Energy Participações S.A. e Bom Jesus Investimentos Fotovoltaicos 02 Ltda. Advogados: Enrico Spini Romanielo e Fernanda Lins Nemer. Decido pela aprovação sem restrições.
Ato de Concentração nº 08700.002308/2024-90
Requerentes: LC Administração de Restaurantes Ltda. (empresa do Grupo GPS), GR Serviços e Alimentação Ltda., Clean Mall Serviços Ltda., Foodbuy Alimentos Sociedade Unipessoal Ltda., GRSA Serviços Ltda. e GR Manutenção e Facilities Sociedade Unipessoal Ltda. (empresas do Grupo Compass). Advogados: Barbara Rosenberg, Marcos Exposto, Julia Krein, Luiza Nóbrega, Paula Camara, e Paulo Luciano Júnior. Decido pela aprovação sem restrições.
CMA
Lindab / HAS-Vent merger inquiry
- The CMA is investigating the completed acquisition by Lindab International AB of HAS-Vent Holdings Limited.
- Updated: 26 April 2024
Ingressos no mês
CADE
Ato de concentração 08700.002620/2024-83
Prevent Senior Private Operadora de Saúde Ltda.
Hospital Alemão Oswaldo Cruz
Edital: 25.04.2024
Ato de concentração nº 08700.002625/2024-14
Dallasanta Empreendimentos e Incorporações Ltda.
WMS Supermercados do Brasil Ltda.
Edital: 25.04.2024
Ato de concentração nº 08700.002607/2024-24
Raízen Serviços e Participações S.A.
Cimpar Participações Ltda.
Edital: 25.04.2024
Ato de concentração nº 08700.002544/2024-14
Marilan Alimentos S.A.
Top Cau Indústria e Comércio de Chocolates Ltda.
Edital: 24.04.2024
Ato de concentração nº 08700.002543/2024-61
Rio Energy Participações S.A.
Bom Jesus Investimentos Fotovoltaicos 02 Ltda.
Edital: 24.04.2024
Ato de concentração nº 08700.002545/2024-51
GWB Distribuidora de Veículos Ltda.
CB Autos Participações Ltda.
CB Auto Cross Comércio de Veículos Ltda
Edital: 24.04.2024
Ato de concentração nº 08700.002475/2024-31
Alcoa Corporation
Alumina Limited
Edital: 22.04.2024
Ato de concentração nº 08700.002406/2024-27
CCISA165 Incorporadora Ltda.
Gamaro Propriedades Ltda.
Edital: 19.04.2024
Ato de concentração nº 08700.002419/2024-04
NM JUNIOR PARTICIPAÇÕES S.A.
Gafisa S.A.
GAFISA 80 PARTICIPAÇÕES S.A.
Edital: 19.04.2024
Ato de concentração nº 08700.002309/2024-34
Cervejaria Petrópolis S.A – Em Recuperação Judicial
Imcopa – Importação, Exportação e Indústria de Óleos S.A. – Em Recuperação Judicial
Edital: 15.04.2024
Ato de concentração nº 08700.002378/2024-48
CIP S.A.
CERC SA
Edital: 16.04.2024
Ato de concentração nº 08700.002342/2024-64
Cencosud Brasil Atacado Ltda.
Makro Atacadista S.A.
Edital: 16.04.2024
Ato de concentração nº 08700.002307/2024-45
Plano Capivari Empreendimentos Imobiliários Ltda.
Tencasa Investimentos Imobiliários Ltda.
Edital: 15.04.2024
Ato de concentração nº 08700.002264/2024-06
VEOLIA SERVIÇOS AMBIENTAIS BRASIL LTDA.
RAC SANEAMENTO LTDA
Edital: 15.04.2024
Ato de concentração nº 08700.002265/2024-42
CSS United Aut Group Comércio de Veículos Ltda.
BCLV Comércio de Veículos S.A.
José Renato Polyceno Bernardes
Nova Sociedade Incorporações e Participações Ltda.
ABCTA Participações Ltda.
Guilherme Gonçalves Passalacqua
Roberto David Bittencourt Cury
BMMOT Comércio de Veículos Ltda.
Edital: 16.04.2024
Comissão Europeia
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Last decision date: 24.04.2024 Simplified procedure
EQUINOR / SHELL / TOTALENERGIES / JV
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GAMMA / KARL ROYER / RHO / HEKTAR MEDIA
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Ongoing
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ENBRIDGE / MPLX / ISQ / WPC
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STONEPEAK / ORSTED / OONA ENERGY
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ABU DHABI FUTURE ENERGY COMPANY / MUFG / TERRA-GEN POWER HOLDINGS II
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Ongoing
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ARAMCO DIGITAL / LTIMINDTREE / JV
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Last decision date: none Super simplified procedure
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CVC / EMMA / MAILSTEP
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Investigation phase:1
BRITANNIC STRATEGIES / GETEC ENERGIE
Merger
Last decision date: none Simplified procedure
Ongoing
Investigation phase:1
BP / ADNOC / JV
Merger
Last decision date: none Super simplified procedure
Ongoing
Investigation phase:1
BAYWA / NUFRI / NUBA BERRIES JV
Merger
Last decision date: none Simplified procedure
Ongoing
Investigation phase:1
MT AEROSPACE / EGI / JV
Merger
Last decision date: none Simplified procedure
Ongoing
Investigation phase:1
NEXANS / GRUPPO LTC
Merger
Last decision date: none
Ongoing
Investigation phase:1
GUNVOR / EVE / BBE
Merger
Last decision date: none Simplified procedure
Ongoing
Investigation phase:1
NIPPON STEEL / UNITED STATES STEEL
Merger
Last decision date: none Simplified procedure
Ongoing
Investigation phase:1
AGROFERT / EAST GRAIN GROUP
Merger
Last decision date: none Simplified procedure
Ongoing
Investigation phase:1
HAIER / CCR
Merger
Last decision date: none Simplified procedure
Ongoing
Investigation phase:1
HYDRO ENERGI / MIRACL / REIN JV
Merger
Last decision date: none Simplified procedure
Ongoing
Investigation phase:1
VOLVO / WESTPORT / JV
Merger
Last decision date: none Simplified procedure
Ongoing
Investigation phase:1
KKR / NETCO
Merger
Last decision date: none
Ongoing
Investigation phase:1