Eureko Ireland Holdings Ltd/Celtic International Insurance Co. Ltd [1995] IECA 409 (22nd June, 1995)

Eureko Ireland Holdings Ltd/Celtic International Insurance Co. Ltd [1995] IECA 409 (22nd June, 1995)

The agreement, as amended to limit the duration of non-compete and non-solicitation clauses, does not have the object or effect of preventing, restricting or distorting competition and therefore does not offend Section 4(1) of the Competition Act, 1991.

Citation
[1995] IECA 409
Parties
Purchaser: Eureko Ireland Holdings Limited; Target Company: Celtic International Insurance Company Limited; Vendor/shareholder: Dalysfort Limited; Vendor/shareholder: Glenlo Abbey Limited; Vendor/shareholder: Eyre Investments Limited; Vendor/shareholder: Celtic Holdings Limited; Vendor/beneficial Owner: John F. Bourke; Related Party: Stellar International Limited
Jurisdiction
Ireland
Procedural Posture
Competition Authority Decision / Final Decision/certificate Issuance
Outcome
Certificate issued; agreement does not offend Section 4(1) of the Competition Act, 1991.
Legal Topics
Merger Control, Non Compete Clauses, Market Concentration, Goodwill Transfer
Competition Law Corporate Law Merger Control Non Compete Clauses Market Concentration Goodwill Transfer

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Parties

Eureko Ireland Holdings Limited

Purchaser

Celtic International Insurance Company Limited

Target Company

Dalysfort Limited

Vendor/shareholder

Glenlo Abbey Limited

Vendor/shareholder

Eyre Investments Limited

Vendor/shareholder

Celtic Holdings Limited

Vendor/shareholder

John F. Bourke

Vendor/beneficial Owner

Stellar International Limited

Related Party

Procedural Posture

Competition Authority Decision / Final Decision/certificate Issuance

Legal Issues

  1. 1 Whether the acquisition agreement and associated non-compete clauses offend Section 4(1) of the Competition Act, 1991 by preventing, restricting or distorting competition.

Ratio Decidendi

The agreement, as amended to limit the duration of non-compete and non-solicitation clauses, does not have the object or effect of preventing, restricting or distorting competition and therefore does not offend Section 4(1) of the Competition Act, 1991.

Court Disposition

Certificate issued; agreement does not offend Section 4(1) of the Competition Act, 1991.

Orders

  • The Competition Authority certifies that the agreement of 21 July 1993, as amended, for the purchase of almost the entire share capital of Celtic International Insurance Company Limited by Eureko Ireland Holdings Limited does not offend against Section 4(1) of the Competition Act, 1991.