The CPALL – CPRD competition board acknowledges 7 conditions and merges Tesco next week. Point out to prepare a model to follow up after a concise business combination Ready to randomly check if they do not comply with the law
Mr. Somsak Kiatchailak The Secretary-General of the Trade Competition Committee disclosed “Prachachat Business” that the Trade Competition Commission (KKU) postponed the meeting schedule to inform the conditions of the business merger between CP Retail Development Company Limited and Tesco Store (Thailand) Co., Ltd. to the next week from originally scheduled to discuss today (27 Jan ’64) because there are still issues that need to be prepared in some details.
“We invite the applicant to acknowledge 7 conditions after the board considers merging and completing 60 days, no appeal has been submitted. It is considered that the merger through the qualification But from now on, it will be a step to follow up on the compliance with the conditions of the merger whether it is done correctly or not. This will have to be discussed with the merger, CPALL and CPRD, a new company that has established a format for auditing and reporting to directors. And where to take the information from “
For example, one of the seven conditions states that the company will have to increase the percentage of purchases from SMEs by 10%. How many products have you bought from SME this year? Who is SME? How much sales are there? To serve as a basis for the following years Or the terms of the payment period (credit term) 30 days, must know how many days now.
Or the condition that the contract with the supplier must not change We need to know what is currently a contract with suppliers. And if information is reported in the future, it can be checked with the supplier to see if the conditions are met or not, etc.
Mr. Somsak further stated that Because this case is the first case according to the law Hence, there has never been a guideline for monitoring business mergers and acquisitions, so how to use the form to follow up depends on the consideration of the ABC. Track audit duties Or may consider allowing the Competition Office to proceed, it is possible
However, there is a news stream that there will be people who disagree with this merger. Filed an objection to the resolution of a. If after the business is merged There are cases where there are people who disagree. Which is not the company that requested the merger filed an appeal Then may proceed to petition the Administrative Court
In the event of non-compliance with the business combination conditions, there will be penalties imposed by law for infringement of the business combination law. There is a maximum fine not exceeding 0.5% of the transaction value of the business combination.
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