The Authority for Consumers and Markets (ACM) reported that Modulaire contacted the authority when it became aware of the omission and paid a reduced fine because it cooperated with a simplified procedure.
Modulaire’s subsidiary Algeco acquired Buko companies Buko Huisvesting and Buko Bouw & Winkels in October 2019 from investment company Scheybeeck, for an undisclosed sum.
Modulaire was required to notify ACM of the acquisition in advance, because the it exceeded the turnover thresholds for merger notifications to ACM.
ACM is tasked with assessing whether business mergers might lead to higher prices, reduced quality, or less innovation in the market.
“That is why businesses have to notify ACM of their plans in advance if those plans exceed the statutory turnover thresholds,” said Martijn Snoep, Chairman of the Board of ACM.