The antitrust law in corporate transaction in Brazil: new frontiers based on Law no. 12,529/2011

Alexandre Ferreira de Assumpção Alves / Gustavo Flausino Coelho

Keywords

antitrust law; Law no. 12,529/2011; merger review; concentration act; Administrative Council of Economic Defense – CADE; pre-merger review system

Table of contents

Based on the recent effectiveness of Law no. 12,529/2011, the Antitrust Law, this paper aims to address the new frontiers of competition law in connection with the review of corporate transactions in Brazil. After a long process of institutional development of the Administrative Council of Economic Defense – CADE and local and foreign discussion about legal matters, the new regulatory framework was modifies in order to reflect the best practices. Among the changes, it should be highlighted the amendment of institutional design, with the increase of CADE’s role and the introduction of the new pre-merger review system. However, there are several provisions and uncertainties that shall be analyzed and challenged in order to constantly improve the new Brazilian regime of merger control. This paper will analyze these new challenges for antitrust law based on the review of the scholars and the CADE case law.