Emmanuel Frot
Principal
Education
Summary
Dr. Frot is an economist with specialized expertise in applying quantitative analyses to competition, litigation, regulatory, and business intelligence issues. He advises firms in a wide range of industries, providing economic and econometric expertise on matters related to mergers, market concentrations, cartel investigations, and damages.
Over the years, he has performed numerous economic and econometric analyses in Phase I and Phase II mergers before the French Competition Authority and the European Commission, including Veolia Transport/Transdev, Jardiland/InVivo, Castel/Patriarche, Fnac/Nature & Découvertes, d’aucy/Triskalia, Lactalis/Nuova Castelli, Lactalis/Leerdammer, CMA CGM / Bolloré Logistics, Canal+/OCS, and Suez/Veolia. He has led case teams and performed economic analyses in several prominent horizontal and vertical cartel cases, as well as estimated damages in antitrust litigation and intellectual property matters. He has also assisted companies in modeling and implementing changes to pricing behavior.
His reports have been presented to the European Commission, the French Competition Authority, the Court of Appeals, the Conseil d’État (France’s highest administrative court), the Tribunal of Commerce of Paris, and regulators in the telecommunications, energy, transportation, and gambling sectors. Dr. Frot has published a number of articles in peer-reviewed journals and regularly speaks at international competition law and policy conferences.
Selected Cases
Lactalis Group Acquisition of Nuova Castelli
Analysis Group worked with international dairy product manufacturer Lactalis Group in its acquisition of specialty cheese producer and distributor Nuova Castelli.
Groupe Bertrand Acquisition of Léon de Bruxelles
Analysis Group supported restaurant and hotel conglomerate Groupe Bertrand in its acquisition of restaurant chain Léon de Bruxelles.
Carrefour Acquisition of Makro Dossier Gulliver
Analysis Group worked with hypermarket chain Carrefour in its acquisition of Makro Dossier Gulliver, another chain of hypermarkets (a combination of grocery and department stores).
European Camping Group Acquisition of Vacanceselect
Analysis Group worked with outdoor accommodation company European Camping Group in its acquisition of Vacanceselect, another outdoor accommodation company.
Associated People
Audika Groupe S.A.S./Audilab S.A. Merger
Analysis Group supported hearing aid manufacturers Audika Groupe S.A.S. and Audilab S.A. in their merger.
D’Aucy /Triskalia Merger
Analysis Group supported the French agricultural cooperatives D’Aucy and Triskalia in their merger.
AGPM Acquisition of GMPA
Analysis Group worked with insurance company Ass Generale Prevoyance Militaire (AGPM) in its acquisition of Groupement Militaire de Prevoyances des Armees (GMPA), a subsidiary of Allianz SE.
Lactalis Group Acquisition of Ambrosi
Analysis Group supported the international dairy product manufacturer Lactalis Group in its acquisition of Ambrosi S.p.A., an Italian cheese distributor, through a Phase 1 investigation conducted by the European Commission.
Associated People
Lactalis Group Acquisition of Leerdammer
Analysis Group supported international dairy product manufacturer Lactalis Group in its acquisition of specialty cheese producer Leerdammer.
Review of Crédit Agricole and Worldline Joint Venture
Analysis Group was retained by French international banking group Credit Agricole and Worldline SA (Worldline), a French provider of merchant and transactional services, in connection with Credit Agricole’s intended acquisition of a minority stake in Worldline and the parties’ proposed joint venture.
San Marina Acquisition of Minelli SAS
Analysis Group was retained by Stéphane Collaert, co-owner of footwear brand San Marina in connection with an investigation by the French Competition Authority (FCA) of San Marina’s intended acquisition of French footwear and accessories brand Minelli SAS.
Groupe Canal Plus Acquisition of OCS and Orange Studio
Analysis Group was retained on behalf of French media company Groupe Canal Plus in connection with its prospective acquisition of pay TV platform OCS and film and television co-production company Orange Studio, both subsidiaries of the French telecommunications company Orange SA.
CMA CGM Group SA Acquisition of Bolloré Logistics
Analysis Group was retained on behalf of French container shipping and transportation company CMA CGM Group SA (CMA CGM) in connection with its intended acquisition of Bolloré Logistics, a division of a French conglomerate with a specialization in transport and logistics services for luxury goods.
D’leteren Group Acquisition of Parts Holding Europe
Analysis Group supported D’Ieteren Group, Belgian owner of companies in the automotive and vehicle repair industries, though a Phase I investigation by the European Commission of D’leteren Group’s intended acquisition of Parts Holding Europe, a French distributor of automotive spare parts.
FNAC Darty Acquisition of Nature & Decouvertes
Analysis Group was retained by FNAC Darty, a French online retailer of consumer electronic products, and Nature & Decouvertes, a French book and toy retailer, to assess the economic impact of FNAC Darty’s acquisition of Nature & Decouvertes.
Roche Holding AG, et al. v. French Competition Authority
Analysis Group supported Novartis and its counsel in their appeal of the French Competition Authority’s (FCA’s) decision finding that Genentech, Roche, and Novartis had abused a collective dominant position by allegedly disparaging an off-label competitor’s drug in their communications.
Reworld Media/Arnoldo Mondadori Editore Merger Approval
An Analysis Group team was retained on behalf of French media company Reworld Media in its successful merger with Mondadori France, a subsidiary of Arnoldo Mondadori Editore.
Economic Analysis in CMA CGM Shipping Matter
An Analysis Group team was retained on behalf of French container transportation and shipping company CMA CGM to assess the economic impact of the Ocean Alliance – an operational agreement between shipping companies enabling member shipping companies to offer various efficiencies that benefit consumers and the environment – on shipping prices.
In re: Corsica Linea PSO France Objet
An Analysis Group team was retained on behalf of French regional shipping and ferry company Corsica Linea in a European Commission (EC) investigation into whether Corsica Linea’s public service obligation (PSO) to ship from Marseille to ports in Corsica distorted competition.
Worldline Acquisition of Ingenico
An Analysis Group team provided economic and competitive analysis in Wordline’s successful proposal to acquire Ingenico, a rival payment services and point-of-sale terminal provider.