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Amended COMESA Competition Commission merger thresholds and fees set

COMESA’s Competition Commission looks set to introduce an amendment to the COMESA Competition Regulations governing the monetary thresholds that trigger required notification of a merger as well as merger fees levels.  The date on which the amendment comes into effect has not been established, although it is “imminent”.

Currently the monetary threshold above which dealmakers must notify COMESA’s Competition Commission is set at zero, while the filing fee is set at 0.5% of the higher of combined turnover or asset value of the merging parties, capped at a maximum of $500,000.  Quoting Willard Mwemba, the commission’s head of M&A, law firm ENSafrica posted that, post-amendment, the monetary threshold for merger notifications comes into effect when either the combined turnover or asset value of the merging parties exceeds $50 million or each merging party has turnover or asset value in excess of $10 million.  Meanwhile, once the amendment comes into effect, the filing fee is set at 0.1% of the higher of combined turnover or asset value of the merging parties, capped at a maximum of $200,000.

The Amendment is expected to be warmly welcomed by the market.

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