Peru: Peru introduces new merger control law

The government of Peru officially introduced its draft merger and merger control bill to Congress on March 26, confirming what was advanced by the Deputy Minister of Economy, Michel Canta. The initiative presented by the Executive would gather diverse initiatives that have been debated in the Economy and Consumer Defense commissions in Congress.

Peru is one of the few countries in Latin America that still does not have a merger control law. The Economic Commission approved its draft of the law following the guidelines of the OECD as well as other competent bodies.

“This project by the Executive Power contributes to the discussion that has been taking place in the Congress of the Republic, since it contains important contributions that seek to promote the efficient functioning of the markets, avoiding those mergers that may generate a significant restriction of competition,” said Carlos Oliva, Minister of Economy and Finance.