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Business Articles Awards > Cross-border Issues

Implementing cross-border transactions by carve-out before final merger clearance

Murad Daghles, Lukas Rengier, Allen & Overy Publication, December 2017

See Murad Daghles's resume See Lukas Rengier's resume

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Cross-border corporate transactions often require merger clearance by several competition authorities before they can be implemented. If the parties are working to a tight schedule and the necessary approval in just one last jurisdiction is still pending, a carve-out of this jurisdiction may be an option in order to be able to implement the rest of the transaction. This article demonstrates that, while competition authorities are generally critical of such solutions, a carveout may be a real alternative in certain circumstances.

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