CHAPTER V1Associative Agreements • May 28th, 2015
As far as the merger control is concerned, one of the most common criticisms to the previous Brazilian antitrust law (Law 8,884/94) referred to the generic provision regulating merger filings. Because of the vague and diffuse concept set forth thereunder, economic agents generally raised questions concerning the obligation to notify the Brazilian Antitrust Authority (CADE) on certain transactions the merging parties believed did not require notification as merger filings.
Associative agreements as reportable transactions Authors: Barbara Rosenberg, Marília Avila and Guilerme Morgulis. Contributed by: Barbosa, Müssnich & Aragão AdvogadosAssociative Agreements • February 13th, 2014
This broad statutory language left much room for uncertainty and did not fit well with the expected change to a pre-merger review system that would introduce a bar on closing obligations and considerably higher penalties for failing to notify reportable transactions. With the introduction of Law 12,529/11, the open-ended wording of the former law was replaced by a list of reportable transactions. According to Article 90 of the new law, a concentration occurs when:
