Law: Competition Act, 2010

Section: 2

Competition Act (XIX of 2010)--Ss. 2(e), 11 & 31(1)(d)(i)---Competition (Merger Control) Regulations, 2007, Regln. 6---Pre-merger application---Applicant/acquirer, had submitted a pre-merger application regarding the clearance from the Competition Commission of Pakistan the acquisition of corporation---Applicant was a dominant player in the relevant product market and would further strengthen its dominant position in the relevant market---Transaction involved the proposed acquisition of the merger corporation by way of contracts, assets and liabilities of the business segments by corporation---Apart from lessening of competition, elimination of a competitor also would reduce the choices available to consumer---Availability of choice was an important determinant of a competitive market---Reduction in choices available to consumers was the concern of the Competition Commission---Bench and the merger parties, however, agreed that a written undertaking by the applicant/acquirer to the effect that, merged corporation's products would continue to be available for a period of three years from the date of closing of transaction in Pakistan---Since the applicant had given a written undertaking to the Competition Commission the Bench authorized the acquisition under S.31(1)(d)(i) of the Competition Act, 2010. ORDER Nestle S.A. ("Nestle or the Acquirer") through its legal advisors, Ijaz Ahmed and Associates, submitted a pre-merger application, dated 6th June, 2012, pursuant to section 11 of the Competition Act, 2010 (hereinafter the "Act"), regarding the clearance from the Competition Commission of Pakistan (the "Commission") the acquisition of the Nutrition Business of Pfizer Inc. ("Pfizer"). 2. The transaction involves an acquisition of the Nutrition Business of Pfizer Inc. ("Pfizer") by Nestle. The relevant product market of the merger parties comprises of two parts, Infant and Follow-On Milk ("IFFO") (0-12 months) and Growing-Up Milk ("GUM") (12 months +) the Acquirer is engaged in the relevant product market and is already enjoying a dominant position in the relevant product market by having .....% & ....% market share in IFFO milk and GUM in terms of volume,…

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