As a result of the deal, the investment fund will gain control of the chain.
The Administrative Council for Economic Defense of Brazil (CADE) will analyze the sale of 60% of the Atakarejo retail chain to Private Equity Holding VII - Omega. The public notice announcing the merger was published in the Federal Official Gazette (DOU) on Wednesday (04/10).
✔️ Omega is a non-operational holding company under the control of Pátria Private Equity VII, a private investment fund managed by Pátria Investimentos. Omega does not currently carry out any activities or hold investments in operating companies, while the other Pátria VII companies have no activities in the self-service retail market.
✔️ Atakarejo operates a chain of retail stores in the "atacarejo" format in six cities in Bahia: Salvador, Lauro de Freitas, Alagoinhas, Camaçari, Simões Filho and Feira de Santana.
According to the form submitted to CADE by the companies, the operation will not result in competition concerns, since the market shares of Atakarejo in self-service retail and of fund companies managed by Pátria Investimentos in related markets are below the parameters observed by the agency for approving mergers.
According to the law, the competitive analysis of mergers must be completed within 240 days. This legal deadline can be extended by a further 90 days, by means of a reasoned decision by CADE's Administrative Court, or by 60 days at the request of the parties' lawyers.
Mergers can be classified by CADE as simplified ones, which are considered simpler from a competitive point of view, and regular ones, which require a more in-depth analysis. The assessment of transactions submitted to the simplified procedure must be completed within 30 days.