Egypt to enforce ex-ante merger control law in June – ECA chief

Egypt’s landmark rules on ex-ante merger control regime under the Egyptian Competition Law (ELC) will enter into force next June, chairman of the Egyptian Competition Authority (ECA) confirmed on Sunday.
The recent amendments grant the Egyptian Competition Authority (ECA) new responsibilities, which now include ex-ante control over economic concentrations (mergers and acquisitions).

This move aims to create a more competitive business environment and will attract domestic and foreign investments, ECA’s chaiman Mahmou Momtaz added in a press conference.

The new regime grants the ECA the right to review mergers and acquisitions (M&As) beforehand to assess their potential impact on market competition. It also aligns with international standards, with Phase I reviews typically completed within 30 working days.

Notably, ECA took an average of 15 working days to examine notification files in 2023-2024, with 72 per cent completed within 10-15 working days. ECA also actively reviews notifications for mergers and acquisitions in COMESA countries.

These efforts reflect the ECA’s commitment to ensuring clarity regarding the Law and its Executive Regulations, while emphasising the principle of legal certainty in matters related to economic concentration control.