Press release regarding the meeting of the Permanent Commission of the Competition Council

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Press release from the Competition Council regarding the economic concentration project concerning the indirect exclusive takeover by the company “KONE Corporation” of the company “TK Elevator Topco GmbH”

In accordance with the provisions of Article 14 of Law No. 20-13 on the Competition Council, as amended and supplemented, the Permanent Commission of the Council held a meeting on Monday, October 16, 2023 at 09:30, under the chairmanship of Mr. Ahmed Rahhou, President of the Competition Council, to examine the files submitted to it by the Council’s investigation services.

At the beginning of its work, the Permanent Commission approved the minutes of its meeting held on October 12, 2023.
The Permanent Commission then decided to authorize the concentration operations concerning:

    • The acquisition of exclusive control of the company “Cyclone Manufacturing Inc.” and its subsidiary “Cyclone Polska Sp. z o.o.” by the company “Muhr und Bender KG”, through the acquisition of 100% of its share capital and voting rights;
    • The merger between the company “Allen & Overy LLP” and the company “Shearman & Sterling LLP”.