The Competition Authority of Kenya has proposed to revise merger filing thresholds in Kenya with a view to ease the cost of doing business in Kenya. Currently, all mergers in Kenya are notifiable to the Authority, irrespective of the value of the combined assets/turnover of the merging firms.
Under the proposed changes to the merger thresholds, merging firms with a combined turnover/assets of up to Kenya Shillings 500m will be exempt from making a merger filing. Merging firms with a combined turnover/assets of between Kenya Shillings 500m and Kenya Shillings 1 billion may be granted an exemption. Merging firms in the carbon based mineral sector may be exempted irrespective of the value of their assets.
Merging firms with a combined turnover/assets of Kenya Shillings 1 billion and where the assets/turnover of the target firm is more than Kenya Shillings 500m are required to make a full filing.
There are COMESA Competition Commission implications as well under the proposed changes by the Competition Authority of Kenya.
Please contact Shitul Shah or Hamish Keith for further information.