In six months, the Brazilian antitrust authority reviewed 295 deals and collected $31 million in fines, which went to the Fund for De Facto Joint Rights (FDD).
From January to June 2023, the Administrative Council for Economic Defense (CADE) reviewed 265 merger agreements. The average time to review transactions was 26.2 days. This is 37% less than the average review time in the same period last year, which was 41.6 days - in this period, CADE reviewed 295 transactions.
Also in the first half of the year, the Tribunal of CADE adjudicated eight administrative proceedings. Of these, three were fined, resulting in more than BRL 9.8 million ($2 million). Among the proceedings condemned, there is one that CADE investigated 18 companies and 20 individuals for alleged cartel in public and private procurements for projectors and interactive whiteboards.
In the same period, CADE and the party investigated for the anticompetitive conduct signed three cease and desist agreements, determining the extinction of the conduct and its harmful effects on competition and consumers. The firms and individuals involved are to pay BRL 63.7 million ($13,4 million) in financial contributions as set out in the cease and desist agreements.
Another significant amount in this period is the payment of fines for consumer protection violations to the Fund for De Facto Joint Rights (FDD). By 30 June this year, more than BRL148 million ($31 million) had been paid. The amount is used to repair the damage inflicted by antitrust violations on the environment, consumers, goods and rights of artistic value, amongst other de facto joint rights.
Source: Gov.br
