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Merger Filing in the Balkans: The Basics

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What are the basic rules governing merger filing in Serbia, Montenegro, Bosnia and Herzegovina, and Macedonia (FYROM)? Here they are, in five short questions and answers:

1. What are the merger filing thresholds?

Serbia: Montenegro: Bosnia: Macedonia:
  1. The combined global turnover of the parties exceeds EUR 100 million and at least one party’s Serbian turnover exceeds EUR 10 million OR
  2. The combined Serbian turnover of the parties exceeds EUR 20 million and at least two parties each have a Serbian turnover of more than EUR 1 million.
  1. The combined Montenegrin turnover of the parties exceeds EUR 5 million OR
  2. The combined global turnover of the parties exceeds EUR 20 million and the Montenegrin turnover of at least one party exceeds EUR 1 million.

 
  1. The combined global turnover of the parties exceeds EUR 50 million AND
  2. The Bosnian turnover of each of at least two parties exceeds EUR 4 million or their combined market share on the relevant market exceeds 40%.
  1. The combined global turnover of the parties exceeds EUR 10 million and at least one party has a subsidiary in Macedonia OR
  2. The combined Macedonian turnover of the parties exceeds EUR 2.5 million OR
  3. The market share of a party exceeds 40% or the combined market share of the parties exceeds 60%.

2. What are the merger filing fees (in EUR)?

Serbia: Montenegro: Bosnia: Macedonia:
25,000. 15,000. 2,300. 600.

3. Is there a deadline for filing?

Serbia: Montenegro: Bosnia: Macedonia:
Yes, 15 days from the signing of the transaction agreement. Yes, 15 days from the signing of the transaction agreement. Yes, 15 days from the signing of the transaction agreement. No, but the parties must not implement the merger before it is cleared.

4. How long does a Phase I usually take?

Serbia: Montenegro: Bosnia: Macedonia:
3-4 weeks. 4-6 weeks.  Within one month from the date when the Bosnian NCA considers the filing is complete.  Around one month.

5. How many filings are there annually?

Serbia: Montenegro: Bosnia: Macedonia:
100-110.  30-35.  Around 20.  30-40.

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