CADE approves, with restrictions, the purchase of assets from Sacel by Prosegur


On the 21st of December 2020, the Administrative Council for Economic Defense approved with restrictions the acquisition of assets of Sacel - Surveillance and Securities Transportation Services by Prosegur.

The endorsement of the antitrust agency was conditioned to committing to the Concentration Control Agreement. The case's reporting counsellor, Paula Azevedo, highlighted that the transportation and custody market had undergone a systematic movement of economic concentration, marked by a series of acquisitions brought to CADE's analysis. Thus, given the competitive concerns raised by this, Prosegur negotiated a Concentration Control Agreement in which it takes on commitments capable of mitigating the potential anti-competitive effects of the purchase.
Under the agreement, Prosegur is prohibited from participating in merger acts involving other companies that offer cash transportation services in the states of Sergipe, Alagoas, Bahia and Pernambuco, for the next four years.

For a period of three years, the company will also not be able to carry out operations in this sector in the states of Paraíba, and Rio Grande do Norte, except under certain conditions provided for in the Concentration Control Agreement.

Besides, for the next two years, Prosegur must inform CADE of any new acquisitions in the states of Sergipe, Alagoas, Bahia and Pernambuco, regardless of the revenues of the companies involved. This same obligation applies to future operations in the states of Paraíba and Rio Grande do Norte, but for three years. In the event of non-compliance with the obligations provided for, Prosegur will pay a fine of R $ 5 million.