On 8th of March, General Superintendence of the Administrative Council for Economic Defense, by means of an order published in the Official Gazette (DOU), approved the acquisition, by Tereftálicos and Indorama Ventures Spain, of shares of Oxiteno, currently held by Ultrapar.
The buyers are holding companies of the Indorama Ventures Group, which has global operations in the chemical sector with 124 production units in 33 countries. Oxiteno is a wholly-owned subsidiary of Ultrapar, part of Grupo Ultra, which, in turn, operates in different segments through companies such as Ultragaz, Ultracargo, Ipiranga and Extrafarma.
After analyzing the markets affected by the deal, including monoethylene glycol (MEG) and polyethylene terephthalate (PET) resin, the General Superintendence understood that the operation does not raise competition concerns and decided to approve it without restrictions.
Another concentration act that received authorization from CADE, without restrictions, through an order published in the DOU, concerns the total acquisition of shares in Samsung Bioepis, currently held by Biogen Therapeutics, by Samsung Biologics.
Bioepis is a joint venture owned by Samsung Biologics and Biogen, under shared control, and engaged in the development, manufacture and marketing of biosimilar medicines. Currently, the company sells products in Brazil that are used, for example, in the treatment of autoimmune diseases, such as rheumatoid arthritis and some types of cancer.
In its opinion, CADE's General Superintendence pointed out that the deal constitutes a mere acquisition of unitary control of Bioepis by Samsung Biologics, which was previously shared with Biogen, which does not result in negative effects for the affected market.
If CADE's Tribunal does not invoke the mergers for analysis or there is no appeal by an interested third party, within 15 days, the decision of the General Superintendence will be final and the operations will be definitively approved by the antitrust agency.
Source: Gov.br
