Brazilian Law Firm Successfully Handles Competition Case Before Brazilian Competition Authorities
Mattos Muriel Kestener Advogados' Oversees CADE Approval of Brazil's Integrated Logistic System
MSI Global Alliance’s Brazilian law firm member MATTOS MURIEL KESTENER ADVOGADOS was recently retained by Camargo Correa, Copersucar, Odebrecht Transport, PETROBRAS, Raízen and UNIDUTO to handle a transaction before the Brazilian Competition Authorities (SEAE, SDE and CADE).
The Plenary Session of the Administrative Council for Economic Defense (CADE)approved without restrictions the association between Petrobras, Copersucar, Raízen, Camargo Correa, Odebrecht and Uniduto for the development, construction and operation of a pipeline and intermodal terminals and a port system for the transport and flow of fuel, especially ethanol.
The company that will operate the Integrated Logistic System is called Logum. During its analysis, CADE recognized the importance of an efficient and integrated system for solving the logistical bottleneck in the country. Although some competitive concerns have been raised during the transaction analysis regarding risk of collusion between the shareholders and even discriminatory treatment by raising rivals' costs in relation to third parties, CADE dismissed any concerns that might exist in this regard, because of Logum's governance structure as well as strong regulation which ensures open access to pipelines and is under the monitoring of the National Agency of Oil, Natural Gas and Biofuels (ANP).
The association between Petrobras, Copersucar, Raízen, Camargo Correa, Odebrecht and Uniduto to enable the construction of the Integrated Logistic System, due to its green field characteristics, was considered innovative, efficient and competitive by CADE, which unanimously recommended approval of the transaction without restrictions.
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