LATAM Merger Control: The Big Picture

By Santiago Roca Arribas y Timothy Cornell

Since 2011 most of the countries in the region have revised their merger control legislation and issued guidelines with the object of improving effectiveness and predictability.  In 2012, Brazil drastically modified its merger regime by establishing a mandatory premerger notification system, increasing the filing thresholds and restructuring the merger review process.  Since then, the Brazilian regulator has also issued guidelines on many topics (e.g., gun jumping) and is expected to publish on merger remedies in 2018.  In 2014, Mexico enacted a new federal law, introducing procedural changes to the Mexican merger review.  In addition, in 2015, the Mexican regulator issued merger review guidelines, which were updated in 2017 to insert provisions on the analysis of ancillary restrictions.  In 2017, Chile adopted significant changes by switching its previously voluntary merger control regime to a mandatory preclosing notification obligation.  The same year, the Chilean regulator issued guidelines fixing notification thresholds and merger remedies, and published standardized notification forms.  Between 2011 and 2013, Costa Rica reformed its previously voluntary merger control regime to become mandatory, and Ecuador and Paraguay enacted merger control legislation for the first time.  In the case of Ecuador, the regulator is currently working on drafting merger analysis guidance…

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