Acquisition of Shares in a Norwegian Company - Merger Control Issues

In Norway, unlike in many other jurisdictions, notification of an acquisition to the competition authorities is voluntary. However, the Norwegian Competition Authority may intervene against an acquisition.

The Norwegian Competition Act applies to terms of business, agreements and actions which have effect, or are liable to have effect, in the Realm of Norway. Insofar as they only have effect, or are liable to have effect, outside the Realm, terms of business, agreements, and actions are not covered by the Act unless the King so decides. The extent of the Act may be broadened by agreement with a foreign State or an international organization.

There are no notification requirements under the Competition Act. However, the Competition Authority may intervene against acquisition of enterprises where the Authority finds that the acquisition in question will create or strengthen a significant restriction of competition contrary to the purpose of the Competition Act. By acquisition is