The New UAE Competition Law: Merger and Acquisition Control: Stay Ahead of the Competition!
Type
E-journal
Date
12 Feb 2013
Jurisdiction
United Arab Emirates
Taxonomy
Abuse of Dominant Position & Monopolies, Agreements, Mergers & Acquisitions, Joint Ventures & Competition Law, Exemptions, Enforcement of Competition Law, Competition Institutions
Copyright
LexisNexis
Relevant company
Clyde & Co
Legal reference
Federal Law No. 4/2012
Analysis
The new UAE competition law seeks to prohibit anti-competitive practices such as the entry into of certain restrictive agreements and the abuse of a dominant market position. However, the new law also has another key area of focus which could have a significant impact on M&A transactions in the UAE and beyond.
Introduction
A previous Clyde & Co legal update by Rebecca Kelly and Laura Chicken (The New Federal Competition Law in the UAE, 3 December 2012) summarised the main provisions of the new United Arab Emirates (UAE) Federal Competition Law (Federal Law No. (4) of 2012) which was published in the Official Gazette on 23 October 2012 and will come into force on 23 February 2013 (UAE Competition Law). The new legislation seeks to prohibit anti-competitive practices such as the entry into of certain restrictive agreements and the abuse of a dominant market position.