Merger Information Sharing Portal
Ministry of Commerce, Consumer Protection, Competition and Fraud Repression Directorate-General, Department of Competition
St 18, Kdey Takoy Village, Sangkat Veal Sbov, Khan Chbar Ampov, Phnom Penh Kingdom of Cambodia
023 231 856
Cambodia’s merger control framework can be found in the Law on Competition 2021, the Sub-Decree No. 60 on the Requirements and Procedures for Business Combinations (6 March 2023), and the Decision No. 095 on Pre-Notification Thresholds (14 March 2023). The Competition Commission of Cambodia has the authority to review mergers or acquisitions to assess whether it will significantly prevent, restrict or distort competition in any Cambodian market.
Ex-ante notification with the Commission is mandatory if any of the party (including its affiliates) to the merger or acquisition meets the following general notification thresholds:
The Commission has 7 working days to determine if it requires the submission of additional information or documents. It has 30 working days for an initial review and another 60 working days, extendible by another 60 working days, for a more in-depth review of the transaction. The transaction may be approved, approved with conditions or prohibited. An ex-post notification is likewise mandatory within 30 working days after completion of an approved transaction.
Cambodia’s merger control framework can be found in the Law on Competition 2021, Section 3: Business Combinations, the Sub-Decree No. 60 on the Requirements and Procedures for Business Combinations (6 March 2023), and the Decision No. 095 on Pre-Notification Thresholds (14 March 2023). The Competition Commission of Cambodia (CCC) has the authority to review mergers or acquisitions to assess whether it will significantly prevent, restrict or distort competition in any Cambodian market.
No data available.
Generally, the CCC’s assessment of a significant prevention, restriction, or distortion of competition will take into account the following factors, among others:
a. Market shares and concentration: the number and size of firms and how market share is distributed within a market can serve as indicators of potential competitive pressures;
b. Market factors and practices: various factors, including contracting practices, regulatory issues, customer behaviors, countervailing power, and other market-related factors, can significantly influence the potential for anti-competitive effects; and
c. Barriers to entry and expansion: actual or potential for increased competition from new entrants or expansion of existing competitors can act as crucial constraints on the ability to exercise market power.
Timelines and the phases of the assessment are as follows:
The CCC has 7 working days to determine if it requires the submission of additional information or documents.
Phase 1: From the date a completed notification was submitted, the CCC has 30 working days to complete its primary review.
Phase 2: If potential concerns are identified that are not resolved during the Phase 1 review, the transaction will be subject to a Phase 2 review. The CCC has 60 days to complete its Phase 2 review of the proposed transaction. The CCC has the power to extend the review period twice by written notice and to pause the review period by submitting a formal supplementary information request.
Parties are eligible to apply simplified notification where:
a. All Parties in a proposed transaction are in the same Group.
b. The proposed transaction has been approved from the Royal Government.
c. Other classes of transactions as may be prescribed by the CCC.
Ex-ante notification with the Commission is mandatory if any of the party (including its affiliates) to the merger or acquisition meets notification thresholds based on total assets, total revenue or turnover and transaction value. Registration is also mandatory after substantive completion of the transaction within 30 days.
The thresholds for mergers and acquisitions vary across 3 sectors.
Assets at USD 84 million (KHR 340,000 million), Turnover at USD 67 million (KHR 270,000 million), Input Purchase at USD 30 million (KHR 120,000 million), and Transaction Value at USD 10 million (KHR 41,000 million).
Assets at USD 1,118 million (KHR 4,500,000 million), Turnover at USD 103 million (KHR 420,000 million), Input Purchase at USD 903 million (KHR 3,800,000 million), and Transaction Value at USD 30 million (KHR 120,000 million).
Assets at USD 260 million (KHR 1,000,000 million), Turnover at USD 70 million (KHR 280,000 million), Input Purchase at USD 200 million (KHR 820,000 million), and Transaction Value at USD 15 million (KHR 61,000 million).
An ex-post notification is likewise mandatory within 30 working days after substantive completion of an approved transaction. In addition, parties may voluntarily apply for Advance Ruling Certificate, subject to registration within 30 working days after substantive completion.
The fee varies are across 4 regulatory categories (Pre-Notification, Post-Notification, Registration, and Advance Ruling Certificate) for 3 sectors (General, Banking and Finance, and Insurance and Securities).
Parties may seek an exemption from notification under Article 12 of the Law on Competition, provided that they shall provide documents and information at the time of notification in accordance with Article 5 of the Sub-Decree No. 60, or at the time of application for an Advance Ruling Certificate in accordance with Article 14 of the Sub-Decree No. 60, or at any time during the review process, to evidence that the proposed transaction complies with the conditions set forth in Article 12 of the Law on Competition.
The notification forms to be submitted to the Commission can be found in:
More information is available in the CCC website: www.ccfdg.gov.kh/en