KUWAIT Law and Practice Contributed by: Alex Saleh, Asad Ahmad, Khaled Al Makhezeem and Liana Rashid, GLA & Company
able fee being included (see 3.3 Filing Fees ). However, this will only be required if the parties choose to submit filing fees based on their combined assets in Kuwait. • The memorandum of association, articles of association, commercial register and com - mercial licences of the parties to the econom - ic concentration. • The names of the board members of each of the parties to the concentration or their legal representatives. • Financial statements for the last two fiscal years for all relevant persons in the economic concentration’s operation and their branches. • A copy of the contract executed or in draft form and any other documents of a public or private offering and information on the num - ber of shares or assets that will be acquired. • A report containing the economic details of the proposed transaction. • Fully completing the economic concentration application which must include: (a) information about the concentration par - ties: (i) the names of the parties of the con - centration operation, memorandum of association, articles of association (if any), commercial licences and the commercial register; (ii) the activity of the parties of the con - centration operation; (iii) the addresses, phone numbers and email addresses of the parties of the concentration operation; (iv) the name, title, copy of ID, phone number and email address of the liaison officer for the parties of the concentration; (v) the capital; (vi) the most important customers and their percentages in the market; (vii) the volume, value and percentage of
sales in the market; and (viii) a description of competitors and their shares in the market. (b) Data of the concentration operation: (i) the type of transaction (ie, merger, acquisition or joint venture); (ii) a description of whether the transac - tion relates to all or some parts of the parties to the economic concen - tration; (iii) a brief explanation of the economic and financial structure of the eco - nomic concentration; (iv) the proposed or estimated dates of any important procedures aimed at the completion of the concentration operation; (v) the proposed ownership structure and the decisive influence post- completion; (vi) the relevant products of the eco - nomic concentration, its volume and percentage of sale; (vii) the relevant market and its volume; (viii) the products in which the appli - cants deal; (ix) the positive economic impacts of the transaction; (x) the negative effects of the transac - tion and the proposed procedures to mitigate these effects; (xi) the markets affected by the transac - tion; (xii) the factors influencing market ac - cess; (xiii) the nature of the distribution chan - nels; (xiv) the factors affecting price fixation over the last five years; (xv) the volume of available productive capacity and percentage of usage; (xvi) the volume of demand for products
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