NORWAY Trends and Developments Contributed by: Elin Moen, Arne Torsten Andersen, Helge Stemshaug and Beret Sundet, BAHR
The Norwegian Competition Authority (NCA) continues to strictly enforce its merger control regime. This article provides an overview of the latest cases and developments, with highlights including an appeal to the Competition Appeals Tribunal and the NCA’s continued use of its call- in powers. The article also provides an update on legislative developments, including those related to the new market investigation tool and the National Security Act. Merger Control Activity in 2024 Increase in number of notifications but clearance rate remained high There was a material increase in the number of merger notifications in 2024 as 152 notifi - cations were filed in 2024 compared to 113 in 2023. Despite the increase, the NCA maintained a high clearance rate, unconditionally clearing 96% of cases in Phase I. The NCA also contin - ued to process cases efficiently, issuing Phase I clearance decisions on average 12 business days after notification. Parties notifying straight - forward cases to the NCA should not therefore worry about obtaining clearance in a timely man - ner in 2025. As of the end of May, there have been more than 70 notifications already in 2025 suggesting the number of filings in 2025 will be more in line with 2024 than 2023. Continued scrutiny of complex transactions Despite the high Phase I clearance rate, the NCA continues to adopt a firm stance when assessing transactions that potentially threaten competi - tion. In 2024, the NCA referred three cases to Phase II and has already referred two in 2025. The most noteworthy Phase II case in 2024 was Norva24 Vest’s acquisition of Vitek Miljø. The NCA ultimately decided to block this transaction
due to concerns about its impact on competi - tion in emptying and pressure washing services in a regional market on the West Coast of Nor - way. This decision clearly reaffirms the NCA’s willingness to define narrow geographic markets and intervene if it considers that competition is threatened, regardless of the size of the transac - tion. Indeed, this case follows the NCA’s deci - sion in 2023 to prohibit ØB Group’s acquisition of Betongvarer, due to concerns about compe - tition in the supply of ready-mixed concrete in a local market on the West Coast of Norway. Parties considering acquiring targets active in potentially regional or local markets in Norway should pay careful attention to these recent prohibition decisions and ensure they conduct a thorough risk assessment before proceeding. In addition to the prohibition described above, another Phase II case was withdrawn in 2024, namely Saferoad Holding AS’s acquisition of Ze Bra Holding AS. This transaction concerned the supply of road markings in Norway. At the end of Phase I, the NCA raised concerns that the trans - action would strengthen Saferoad’s position by reducing the number of bidders in a market where Saferoad was already the largest player, potentially leading to higher prices for both pub - lic and private customers. This is the fourth case that has been withdrawn in Phase II since 2018. While prohibition decisions and withdrawn noti - fications capture headlines, it is also notewor - thy that the NCA continues to be willing to clear transactions in Phase II. In early 2024, the NCA cleared TGS’s acquisition of PGS days before its deadline to issue a Statement of Objections (SO). Two further cases that started in 2024 and progressed to Phase II, have both been cleared in 2025 without SOs. The first was VY’s acquisi - tion of Flytoget, and the second was Schlum - berger’s acquisition of ChampionX. These cases
452 CHAMBERS.COM
Powered by FlippingBook