{"id":115504,"date":"2025-10-07T13:18:51","date_gmt":"2025-10-07T13:18:51","guid":{"rendered":"https:\/\/my.legal500.com\/guides\/?post_type=comparative_guide&#038;p=115504"},"modified":"2025-10-07T14:44:54","modified_gmt":"2025-10-07T14:44:54","slug":"sweden-merger-control","status":"publish","type":"comparative_guide","link":"https:\/\/my.legal500.com\/guides\/chapter\/sweden-merger-control\/","title":{"rendered":"Sweden: Merger Control"},"content":{"rendered":"","protected":false},"template":"","class_list":["post-115504","comparative_guide","type-comparative_guide","status-publish","hentry","guides-merger-control","jurisdictions-sweden"],"acf":[],"appp":{"post_list":{"below_title":"<div class=\"guide-author-details\"><span class=\"guide-author\">Hammarski\u00f6ld<\/span><span class=\"guide-author-logo\"><img src=\"https:\/\/my.legal500.com\/guides\/wp-content\/uploads\/sites\/1\/2019\/07\/hammarskio\u2560eld_logo_black.jpg\"\/><\/span><\/div>"},"post_detail":{"above_title":"<div class=\"guide-author-details\"><span class=\"guide-author\">Hammarski\u00f6ld<\/span><span class=\"guide-author-logo\"><img src=\"https:\/\/my.legal500.com\/guides\/wp-content\/uploads\/sites\/1\/2019\/07\/hammarskio\u2560eld_logo_black.jpg\"\/><\/span><\/div>","below_title":"<span class=\"guide-intro\">This country specific Q&amp;A provides an overview of Merger Control laws and regulations applicable in Sweden<\/span><div class=\"guide-content\"><div class=\"filter\">\r\n\r\n\t\t\t\t<input type=\"text\" placeholder=\"Search questions and answers...\" class=\"filter-container__search-field\">\r\n\t\t\t<\/div>\r\n\r\n\t\t\t\r\n\r\n\r\n\t\t\t<ol class=\"custom-counter\">\r\n\r\n\t\t\t\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">Overview<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>The provisions governing Swedish merger control are included in the Swedish Competition Act (2008:579) (the Competition Act). The Swedish merger control rules correspond to the European merger control regulation (EUMR), save for national rules regarding turnover thresholds. Concentration that exceed certain thresholds under the EUMR are notifiable to the European Commission under the referral system in the EUMR, see the chapter on the European Union.<\/p>\n<p>The independent administrative authority in charge of merger control in Sweden is the Swedish Competition Authority (SCA).<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">Is notification compulsory or voluntary?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>Notification is mandatory if the concentration leads to a change of control (e.g. by acquisition of sole or joint control) or a change in the quality of control (e.g. from joint to sole control), and the undertakings concerned meet applicable turnover thresholds (see section 4 and 6).<\/p>\n<p>If the threshold for the parties\u2019 combined turnover is met but not the individual turnover threshold, the SCA may order a party to notify a concentration when there are special reasons for doing so. A party or another participant also has the possibility to voluntarily notify the concentration if the threshold for the parties\u2019 combined turnover is met but not the individual turnover threshold. In this way, the parties themselves can trigger the time limits for the SCA\u2019s review in situations where they foresee that an order to notify the transaction could potentially be issued. A voluntary notification may be appropriate, for example, in cases where the parties are aware that they hold high market shares or will acquire high market shares as a result of the concentration, or where the concentration can be expected to attract relevant criticism from customers or competitors.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">Is there a prohibition on completion or closing prior to clearance by the relevant authority? Are there possibilities for derogation or carve out?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>Yes. There is a prohibition for taking steps to complete a concentration prior to clearance by the SCA, or, if no such decision is made, prior to the expiry of the SCA\u2019s review- period (see section 18 below), commonly referred to as the standstill obligation. The standstill obligation includes all actions which, whole or in part, actually or legally contribute to a change of control of the target undertaking\/implementing the concentration.<\/p>\n<p>If it is necessary for the parties\u2019 compliance with the standstill obligation, the SCA may issue an injunction for the parties to respect the standstill obligation coupled with a penalty fine.<\/p>\n<p>There is no formal possibility for carve-out or derogation in the Competition Act, however, the SCA has the power to grant an exemption to the standstill obligation if special reasons exist.<\/p>\n<p>In addition, in its Guidelines for notification and assessment of concentrations between undertakings the SCA has confirmed that where an acquisition of control occurs on a regulated market or an MTF platform so that it is not possible to notify the concentration before it is implemented, the standstill obligation shall cover all forms of utilisation of the rights deriving from the securities in question. Upon request and if needed to maintain the full value of the investment, the SCA can grant an exemption from the standstill obligation, allowing the purchaser to exercise the voting rights deriving from the securities in question, if this can take place without harm to competition.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">What types of transaction are notifiable or reviewable and what is the test for control?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>The Swedish merger control rules apply to transactions that lead to a change of control (or change in the quality of control) over a company on a lasting basis, as a result of:<\/p>\n<ol style=\"padding-left: 0\" type=\"i\">\n<li>two or more independent undertakings being merged, or<\/li>\n<li>one or more persons already controlling at least one other undertaking, or one or more companies which by purchasing securities or assets, by agreement or in another way acquires direct or indirect control over one or more undertakings or parts thereof.<\/li>\n<\/ol>\n<p>Furthermore, the establishment of a joint venture that on a lasting basis fulfils the functions of an independent economic unit constitute a concentration in accordance with the Competition Act.<\/p>\n<p>The concept of \u201ccontrol\u201d under the Competition Act is consistent with the definition set out in the EUMR, and the SCA refers to the European Commissions Consolidated Jurisdictional Notice for guidance in the assessment of control. Control thus encompasses both the power to determine the strategic commercial decisions of the target (\u201cpositive control\u201d) and the possibility to exercise a decisive influence of an undertaking and the power to veto strategic decision of the target (\u201cnegative control\u201d).<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">In which circumstances is an acquisition of a minority interest notifiable or reviewable?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>An acquisition of a minority interest is subject to the merger control rules only if it involves a de facto acquisition of control, for example by veto rights, and provided that the thresholds are met. Acquisitions of non-controlling minority interests are not subject to merger control.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">What are the jurisdictional thresholds (turnover, assets, market share and\/or local presence)? Are there different thresholds that apply to particular sectors?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>A concentration is subject to mandatory notification in Sweden if:<\/p>\n<ol style=\"padding-left: 0\" type=\"i\">\n<li>the undertakings concerned have a combined turnover in Sweden that exceeds SEK1 billion, and<\/li>\n<li>each of at least two of the undertakings concerned has a turnover in Sweden that exceeds SEK200 million.<\/li>\n<\/ol>\n<p>Transactions between the same persons or undertakings that have taken place within a two-year period are treated as one and the same concentration for the purpose of calculation of turnover.<\/p>\n<p>For the concept of undertakings concerned and the calculation and allocation of turnover, the SCA refer to the EUMR and the European Commission\u2019s Consolidated Jurisdictional Notice for guidance.<\/p>\n<p>There are no differencing thresholds that apply to specific sectors.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">How are turnover, assets and\/or market shares valued or determined for the purposes of jurisdictional thresholds?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>In accordance with the SCA\u2019s Guidance Paper on the Notification and Assessment of Concentrations Between Undertakings, turnover is determined by allocating the total revenues from all lines of business for the preceding fiscal year of the undertakings concerned. The most recent settled annual accounts shall be used.<\/p>\n<p>Only turnover generated in Sweden shall be included. VAT and other forms of turnover taxes as well as intra-group turnover shall be excluded.<\/p>\n<p>The provisions regarding calculation of turnover are substantially the same as in the EUMR, and the SCA also refers to the European Commissions Consolidated Jurisdictional Notice for further guidance regarding the calculation of turnover.<\/p>\n<p>Specific provisions apply to the calculation of turnover for credit institutions, other financial institutions, and insurance companies.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">Is there a particular exchange rate required to be used for to convert turnover thresholds and asset values?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>Swedish central bank (Riksbanken) exchange rate should be used.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">In which circumstances are joint ventures notifiable or reviewable (both new joint ventures and acquisitions of joint control over an existing business)?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>If the thresholds set out in section 6 are met, the merger control rules apply to both the establishment of a new joint venture and the acquisition of joint control over an existing undertaking, provided that the joint venture perform, on a lasting basis, all the functions of an autonomous economic entity and thereby constitutes a full-function joint venture. For the concept of undertakings concerned in relation to a joint venture, each of the jointly controlling parent companies is viewed individually as the \u201cundertaking concerned\u201d. If joint control is acquired over an existing company, then the joint venture itself is viewed as an \u201cundertaking concerned\u201d together with the parents.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">Are there any circumstances in which different stages of the same, overall transaction are separately notifiable or reviewable?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>If one transaction includes several steps where each step means a change of control on a lasting basis, and the jurisdictional thresholds are fulfilled, all stages of the same overall transaction may be separately notifiable or reviewable. Where two or more transactions take place within two years between the same undertakings, these transactions are to be regarded as a single concentration for the calculation of turnover thresholds.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">How do the thresholds apply to \u201cforeign-to-foreign\u201d mergers and transactions involving a target \/ joint venture with no nexus to the jurisdiction?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>The jurisdictional thresholds in section 6 apply to foreign- to-foreign mergers.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">For voluntary filing regimes (only), are there any factors not related to competition that might influence the decision as to whether or not notify?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>Not applicable<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">What is the substantive test applied by the relevant authority to assess whether or not to clear the merger, or to clear it subject to remedies?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>A concentration shall be prohibited if its completion significantly would impede the occurrence or the development of effective competition in Sweden as a whole, or a significant part of Sweden (i.e. the SIEC-test). Factors that are considered include market power and economic strength, potential competition, countervailing buyer power, and potential barriers of market entry and possible counterweighing efficiencies. The circumstance that a dominant position is created or strengthen shall be especially considered in the assessment. The substantive test is substantially the same as in the EUMR.<\/p>\n<p>Note that in a in a communication to the government in February 2025, the Swedish Competition Authority has proposed amendments to the Act so that business concentrations can also be prohibited when necessary to safeguard competition, even in small and local markets.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">Are factors unrelated to competition relevant?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>Yes, there is a national exemption stating that the SCA may only issue a prohibition decision if the decision does not involve the setting aside of national interests of security or resources. Such an interest must nevertheless be of such a degree of urgency that it clearly exceeds the negative effects on competition concluded by the substantive assessment.<\/p>\n<p>It should be noted that this exemption has not yet been subject to review by the Swedish courts and thus its closer interpretation in relation to the substantive test is undecided.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">Are ancillary restraints covered by the authority\u2019s clearance decision?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>The SCA\u2019s decision to clear a certain concentration includes restrictions directly related and necessary to the concentration.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">For mandatory filing regimes, is there a statutory deadline for notification of the transaction?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>There is no statutory deadline. However, notifications of concentrations must be made to the SCA before the concentration is implemented, i.e. before the acquiring undertaking starts to exercise control over the target undertaking.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">What is the earliest time or stage in the transaction at which a notification can be made?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>Notifications of concentrations may be made to SCA as soon as a party to the concentration can demonstrate the intention of implementing a concentration.<\/p>\n<p>Notifications can thus be made as early as when there is a letter of intent. However, the details regarding the intended concentration must be concrete enough so that it can be used as a basis for review by the SCA. Pre- notification contact with the SCA is advantageous.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">Is it usual practice to engage in pre-notification discussions with the authority? If so, how long do these typically take?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>Yes. The SCA recommends that pre-notification contact should be made in all cases that may give rise to affected markets or other markets where the concentration may have significant impact. It is not possible to indicate how long such discussions typically take as this is dependent on the specific circumstances of each individual case. Pre-notification contacts generally include one or more meetings in person or by telephone with representatives from the SCA.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">What is the basic timetable for the authority\u2019s review?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>When a notification is complete, the SCA shall within 25 working days review the concentration and decide whether the concentration should be cleared or whether a special investigation of the concentration shall be initiated (commonly referred to as \u201cPhase I\u201d). If the SCA has received an offer regarding commitments from the parties to the concentration, the Phase I review can be extended with 10 extra working days.<\/p>\n<p>In cases where there are no horizontal or vertical links, or where horizontal or vertical links exist but\u00a0 are unlikely to significantly impede competition in any market, the SCA aims to render a decision within 15 working days.<\/p>\n<p>If the SCA decides to initiate a special investigation (commonly referred to as \u201cPhase II\u201d review), the SCA has another three months to investigate the concentration and decide whether the concentration shall be prohibited or cleared. The Phase II review can be extended if the parties consent thereto or if there are special reasons for such an extension. If the SCA has not rendered a decision until the expiry of the Phase II review period, the concentration is considered to have been cleared.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">Under what circumstances may the basic timetable be extended, reset or frozen?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>In accordance with the above, the timetable may be extended with 10 working days during Phase I if the SCA has received an offer regarding commitments from the parties. During Phase II review, the SCA may extend the timeline with 1 month at a time if the parties consent thereto or if there are special reasons for such an extension.<\/p>\n<p>During Phase I and II the SCA has the authority to freeze the timetable for the investigation, i.e. \u201cstop the clock\u201d, if the parties for example fail to provide requested information of essence to the SCA\u2019s review. The SCA may also \u201cstop the clock\u201d during Phase I upon request by the parties.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">Are there any circumstances in which the review timetable can be shortened?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>No. It is not possible to shorten the timetable. However, informally, a well prepared and reasoned notification may shorten the SCA\u2019s review, depending on the SCA\u2019s current workload and other circumstances. The SCA notes in its Guidance Paper on the Notification and Assessment of Concentrations Between Undertakings that a notification which predicts potential concerns by customers and competitors, and addresses such concerns directly in the notification, provides for an \u201cefficient\u201d review. In addition, pre notification contacts with the SCA often result in practical advantages and may allow discussion on timing with the SCA.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">Which party is responsible for submitting the filing?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>The party acquiring control over a target undertaking or a part thereof shall submit the filing. In case the concentration means that two or more undertakings are merged, the concentration shall be submitted by one of the two undertakings.<\/p>\n<p>In cases of joint control and the creation of new joint ventures, the concentration shall be submitted by one of the parties who are acquiring control over the joint venture.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">What information is required in the filing form?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>The filing form requires basic information about the parties to the concentration, details regarding the structure of the concentration, the parties\u2019 ownership and control, economic and personal ties, market definition, affected markets, and reasoning regarding the potential efficiency gains of the concentration.<\/p>\n<p>New provisions regarding the merger filing have entered into force 2025. The filing form is considered complete, and the time limit for the SCA starts, when all the information and documents required is notified to the SCA. Detailed descriptions should be sought when completing the filing form.<\/p>\n<p>The filing form is extensive and shall contain basic information about the parties and other participants to the concentration, a summary description of the concentration, details regarding the structure of the concentration, strategic and economic ground, value of the transaction, turnover and EU-dimension, economic and personal ties, market definition and relevant markets, affected markets and other markets that might be affected by the concentration, the parties market shares, sales value and volume, capacity of the market, information about the largest customers and competitors, conditions in the affected markets, planned products, and reasoning regarding potential efficiency gains of the concentration.<\/p>\n<p>There is a possibility to be granted an exemption from submitting all the information and documents required. The SCA may grant such an exemption upon request prior to submitting the filing. It is recommended that such a request is discussed with the SCA early in the process.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">Which supporting documents, if any, must be filed with the authority?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>Supporting documents required include power of attorney (if applicable), parties\u2019 annual accounts, the purchase agreement or share purchase agreement, potential shareholders agreements, other documents including an intent to carry through the concentration, potential market research reports and similar document when the concentration gives rise to affected markets, contact details to the largest customers, a confidentiality request, and a signed affidavit (\u201csanningsf\u00f6rs\u00e4kran\u201d).<\/p>\n<p>Furthermore, a non-confidential version of the notification must be submitted (see section 28), and a non-confidential summary.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">Is there a filing fee?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>No.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">Is there a public announcement that a notification has been filed?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>Yes. The SCA publishes a summary of the notification on its website when a notification is made. It is therefore important to submit the non-confidential summary, and a confidentiality request to the notification.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">Does the authority seek or invite the views of third parties?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>Yes, the parties to the concentration are obliged to include contact details for customers and competitors on each market that is affected by the concentration which the SCA may contact during its review.<\/p>\n<p>Furthermore, publication of the summary on the SCA\u2019s website aims to give customers and competitors a chance to comment on the concentration. Anyone can thus submit comments and views regarding the concentration to the SCA.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">What information may be published by the authority or made available to third parties?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>The SCA publishes a summary of the notification on its website. Additionally, the notification is made available for anyone who requests it from the SCA. The notification will upon such a request be redacted to exclude any confidential information, for example trade secrets and other sensitive information. Thus, a non-confidential version of the notification shall be submitted to the SCA together with the notification.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">Does the authority cooperate with antitrust authorities in other jurisdictions?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>Yes, for example, the SCA is a member of the EU Merger Working Group which allows the SCA to cooperate with other European competition law authorities in merger filing matters.<\/p>\n<p>Furthermore, the SCA is also part of the European Competition Network (ECN) for cooperation and information exchange between the competition authorities of EU member states and the European Commission. Furthermore, the Nordic competition authorities, including the SCA, cooperate through a Nordic cooperation agreement.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">What kind of remedies are acceptable to the authority?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>The SCA accepts both structural and behavioural remedies. Compliance with remedies may be enforced under penalty of a fine.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">What procedure applies in the event that remedies are required in order to secure clearance?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>Remedies may be proposed at any stage during Phase I or Phase II.<\/p>\n<p>If the SCA accepts an offer by the parties regarding remedies, the SCA will issue a clearance-decision including the accepted remedies and couple the relevant remedies with a penalty clause.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">What are the penalties for failure to notify, late notification and breaches of a prohibition on closing?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>There is no penalty for failure to notify. If an unnotified concentration would come to the SCA\u2019s attention, the SCA may however order the parties to notify the concentration coupled with a penalty clause. In such a case, the SCA also has the right to bring an action before the Patent and Market Court to divest the concentration.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">What are the penalties for incomplete or misleading information in the notification or in response to the authority\u2019s questions?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>The Competition Act does not prescribe any penalties for companies providing incomplete or misleading information in a notification or response to questions from the authority. However, when notifying a concentration to the SCA, the parties must formally declare that the information provided in the notification is correct, complete and true.<\/p>\n<p>It shall be noted that the SCA\u2019s review period will only start upon receipt of a complete notification. Furthermore, if the SCA requests additional information from the parties, the clock can be stopped by the SCA until the notifying party provides the required information. The SCA may also couple the request for information with a penalty clause.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">Can the authority\u2019s decision be appealed to a court?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>Yes. A decision to prohibit or clear a concentration by the SCA may be appealed to the Patent and Market Court, and further to the Patent and Market Court of Appeal provided that leave to appeal is granted.<\/p>\n<p>In very special cases and provided that leave to appeal is granted, judgments and decisions by the Patent and Market Court of Appeal can be further appealed to the Supreme Court. Leave to appeal to the Supreme Court is granted only in cases which are considered important for setting a precedent. The Patent and Market Court of Appeal is therefore the final instance for most cases in practice.<\/p>\n<p>A decision by the SCA to prohibit or clear a concentration may be appealed by anyone who is affected by the decision. This means that no third parties who are not involved in the transaction can appeal the SCA\u2019s decision. The same rule applies to further appeals to the Patent and Market Court of Appeal as well as to the Supreme Court.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">What are the recent trends in the approach of the relevant authority to enforcement, procedure and substantive assessment?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>In May 2025, the SCA introduced updated guidance and regulations (KKVFS 2025:1) on merger notifications under the Competition Act. The revised rules tighten the requirements for what must be included in a notification, demanding more extensive data disclosures, detailed market analyses, and clear strategic rationales. They also raise expectations for pre-notification contact, particularly in cases involving affected markets or transactions likely to have a substantial impact. At the same time, the framework has been modernized, for example by allowing electronically signed notifications instead of requiring physical originals.<\/p>\n<p>Beyond procedural updates, the SCA has also proposed substantive legislative changes aimed at strengthening its enforcement powers. Although not yet adopted, these proposals are under active consideration and include:<\/p>\n<ul style=\"padding-left: 0\">\n<li>Relaxing or removing the current requirement that a merger must harm competition in a \u201csubstantial part of Sweden\u201d to be prohibited. This change would allow the SCA to intervene in smaller or purely local markets where competitive harm is nevertheless significant.<\/li>\n<li>Extending Phase II investigation periods and court review timelines, bringing Swedish practice more closely in line with EU standards.<\/li>\n<\/ul>\n<p>In practice, the SCA has also shown heightened scrutiny in specific sectors, particularly grocery, retail, and other essential supply chains. Consistent with its updated guidance, the SCA now also places greater emphasis on robust economic analysis, including growth forecasts, pipeline assessments, internal company documents (such as board minutes and management reports), and competitor information.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">Are there any future developments or planned reforms of the merger control regime in your jurisdiction?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>The SCA adopted new Regulations and General Guidelines on merger notifications (KKVFS 2025:1), effective 26 May 2025, replacing KKVFS 2010:3. They tighten information requirements (data, market analysis, internal documents), encourage earlier pre-notification engagement, and modernize formalities (e-signatures accepted).<\/p>\n<p>Legislative reform proposals (pending decision) include:<\/p>\n<ul style=\"padding-left: 0\">\n<li>Ability to prohibit transactions affecting small\/local markets: The SCA has asked the government to amend the Competition Act so that a concentration can be prohibited even if harm is confined to small or local markets (i.e., relaxing the current \u201csubstantial part of Sweden\u201d geographic requirement).<\/li>\n<li>Longer review timelines and closer EU alignment<\/li>\n<\/ul>\n<p>As of 12 September 2025, the proposals remain under consideration and are not yet enacted.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\r\n<div class=\"word-count-hidden\" style=\"display:none;\">Estimated word count: <span class=\"word-count\">4023<\/span><\/div>\r\n\r\n\t\t\t<\/ol>\r\n\r\n<script type=\"text\/javascript\" src=\"\/wp-content\/themes\/twentyseventeen\/src\/jquery\/components\/filter-guides.js\" async><\/script><\/div>"}},"_links":{"self":[{"href":"https:\/\/my.legal500.com\/guides\/wp-json\/wp\/v2\/comparative_guide\/115504","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/my.legal500.com\/guides\/wp-json\/wp\/v2\/comparative_guide"}],"about":[{"href":"https:\/\/my.legal500.com\/guides\/wp-json\/wp\/v2\/types\/comparative_guide"}],"wp:attachment":[{"href":"https:\/\/my.legal500.com\/guides\/wp-json\/wp\/v2\/media?parent=115504"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}