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COVID 19 | Resumption of merger control proceedings | May 12

12 of May 2020

COVID 19 | Resumption of merger control proceedings | May 12

The Superintendence of Industry and Commerce issued Resolution No. 20476 of 2020, by which it resumed the terms of the administrative procedure for prior control of business integrations.

Within the framework of the sanitary and economic emergency that the country is currently facing, the National Government has eased the measure of mandatory preventive isolation, permitting the reactivation of various productive sectors of the economy to mitigate the economic consequences of said emergency.

Thus, the Superintendence of Industry and Commerce considered that business integrations are instruments that may generate efficiencies in the market, encourage the dynamics of competition and strengthen the economic structure of companies in the framework of crises that may threaten their survival. These results can increase consumer welfare, as well as strengthen the national productive apparatus and employment generation.

In accordance with the above, the authority ordered the resumption of the administrative procedure for prior control of business integrations as of May 12, 2020. The merger control procedure will be carried out exclusively by digital means through the use of the technologies enabled by the Superintendence of Industry and Commerce.

For legal issues related to coronavirus, please contact Jorge de los Rios at jorge.delosrios@phrlegal.com

Notice: This publication and its content are for informational purposes. It does not constitute legal advice nor does it states the position of Posse Herrera Ruiz in relation to the issues discussed here.