KKR Génesis Fined for Failure to Notify GeneraLife Clinics Acquisition
KKR Génesis was fined over 1 million euros for acquiring exclusive control of GeneraLife without prior notification, violating competition law.
16.04.2024 | Portuguese competition authority
KKR Génesis Bidco, S. L. U. was sanctioned by the CNMC with 1.138.870 euros for acquiring exclusive control of GeneraLife without prior notification in January 2022.
This failure to notify, known as gun jumping, violates the Competition Defense Law, which mandates companies to notify their operations before executing them.
KKR recognized its responsibility during the investigation, availing a reduction of up to 40% on the fine amount by paying in advance, ultimately paying 683.322 euros.