How to use a spoon to cut a steak: The Egyptian Competition Authority’s guide to how to use anti-cartel legislative provisions to control and review mergers.
The new Investment Law 72 which came into effect on June 1, 2017 brings new features to the investment landscape and introduces targeted incentives with the objective of making Egypt one of the top investment destinations in the region.
The overarching competition regulation is promulgated by virtue of Law No. 3 of 2005 (the Competition Law). The Competition Law has since been amended on two occasions: in 2008 and in 2010. The Egyptian Competition Authority (ECA) is entrusted with the task of overseeing the implementation of the Competition Law and is therefore considered as the primary designated regulator of competition in Egypt.
The International Regulation of Mergers and Joint Ventures in 75 Jurisdictions Worldwide 2014
The following is a summary of the acquisition rules issued by Ministerial Decree 12 of 2007 as the new Chapter 12 of the Executive Regulations of the Capital Market Law 95 of 1992 (the “Rules”).”
No merger control or approval regulation currently exists in Egypt. Therefore; the focus of this chapter will not be the peculiarities of Egypt’s past experience but rather the prospective peculiarities of the Egyptian merger control framework.
The draft amendments to the Egyptian Competition Law come to the spotlight nearly six months after a popular uprising overthrew former President Hosni Mubarak who had ruled Egypt for the last three decades. The reign of Mr. Mubarak has been characterized, especially during the last two decades or so, by a gradual switch from government controlled socialism to free market capitalism associated with a reasonably steady economic growth, which ultimately resulted in the Egyptian middle class growing in numbers, income level and aspirations.