The nomination of Sérgio Costa Ravagnani as CADE’s Commissioner for a 4-year term was approved on Tuesday, October 8, and reported in the Brazilian Official Gazette.
As a result, CADE’s quorum has been restored and all procedural deadlines started running Wednesday. Therefore, the transactions that were cleared by the CADE General-Superintendenceduring the lack of quorum (since July 17) will have the 15-day waiting period ended on October 22 and closing will be allowed on the following day, October 23.
In addition the other Commissioners recently appointed—namely Lenisa Rodrigues Prado, Luiz Augusto Hoffmann and Luiz Henrique Braido—have already been approved by the Senate and are expected to take office later this week.
The Senate also approved, last week, the names of the current CADE’s General Superintendent Alexandre Cordeiro Macedo and Chief Attorney Walter Agra Júnior for new two-year terms.
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