COMESA Reduces Maximum Merger Filing Fee, Clarifies Threshold

The COMESA Council of Ministers has significantly reduced the maximum merger filing fee and introduced thresholds for filings.

Where both the acquiring firm and the target firm, or either the acquiring firm or the target firm, operate in two or more COMESA Member States, a merger is notifiable if:

• the combined annual turnover or combined value of assets, whichever is higher, in COMESA of all parties to a merger equals or exceeds USD50m; and
• the annual turnover or value of assets, whichever is higher, in COMESA of each of at least two of the parties to a merger equals or exceeds USD10m, unless each of the parties to a merger achieves at least two-thirds of its aggregate turnover or assets in COMESA within one and the same COMESA Member State.