The Brazilian antitrust authority, the Administrative Council for Economic Defense (CADE), has reaffirmed its jurisdiction to review certain mergers and acquisitions involving foreign companies, even when the transaction takes place outside Brazil. In addition, CADE has launched a public consultation to discuss potential changes to the criteria for reviewing these transactions and to related filing requirements.
Our partners Joyce Honda and Ricardo Gaillard, together with associate Thales Lemos, analyzed the topic in an article published by The Legal Industry. The article discusses CADE’s recent Tribunal decision regarding foreign-to-foreign transactions, the implications of this interpretation for Brazilian merger control, and the key aspects of the ongoing public consultation, including proposed revisions to filing rules and the assessment criteria for transactions that may have effects on the Brazilian market.