SUMA and EGF receive a phase II unconditional merger clearance

On 28 July 2015, the Portuguese Competition Authority has unconditionally cleared the acquisition by SUMA of EGF after a phase II investigation.  SUMA is a waste collection company operating in a competitive market, whereas EGF is a waste treatment company operating as a regulated legal monopoly.   The Competition Authority raised concerns regarding market foreclosure.  RBB provided and in-depth assessment demonstrating that the existence of low entry barriers, significant countervailing buyer power and the regulatory context are likely to prevent SUMA from leveraging its position.  RBB worked alongside Uría Menéndez – Proença de Carvalho, legal advisors to SUMA.  The press release can be found here.