Administrative Council for Economic Defense will analyze a merger involving investment by Grupo Safra in Quiq, a technology platform for managing food delivery. On 4th of April the municipality published in the Official Gazette the announcement of the operation, which provides for a 5.56% stake in the joint venture formed by Domino's, Giraffas, Outback and Rei do Mate, among other companies.
Grupo Safra operates in the areas of commercial banking, credit, financing and investment for account holders and non-account holders, in addition to the management of securities portfolios and investment funds. Quiq is a joint venture established for the development, implementation, commercial exploitation and expansion of a technological platform for managing food delivery, marketplace and logistics, focusing on the aggregation and optimization of different activities carried out by its shareholders in the context of food orders. online.
According to the notification form presented by the companies, the operation represents for Grupo Safra an opportunity for financial investment in a sector that is growing in Brazil. On the other hand, Quiq claims that this is a good time to capitalize on improving and developing the management of the platform.
Pursuant to legislation, the competitive analysis of mergers must be completed within 240 days. This legal term may be extended by a further 90 days, upon a reasoned decision of the Administrative Court of CADE, or by 60 days at the request of the parties' lawyers.
Concentration acts can be classified by CADE as summary, considered simpler from the competition point of view, or ordinary, which demand a more in-depth analysis. The appraisal of transactions submitted to the summary procedure must be completed within 30 days, as provided for in Resolution 02/2012.
Source: CADE
