According to the bulletin published today at CADE’s official website (www.cade.gov.br), highlights of the Judgment session were:
(i) the approval of the transaction among Ipiranga Produtos de Petróleo SA, Chevron Latin América Marketing LLC and Chevron Amazonas LLC (Concentration Act n. 08012.009025/2008-15). The parties agreed to a Consent Decree disposing about conditions in connection the transaction. Ipiranga (part of Ultra Group) acquired the whole business of distribution and resale of liquid fuels and distribution of natural gas for use in vehicles that belonged to Texaco (part of Chevron Group), and
(ii) the continuation of the judgment of the case involving Seva and Continental’s Division VDO (acquired by Continental a few years ago from Siemens). CADE’s President Arthur Badin interrupted the judgment. He will review the case and bring his vote in the next session, after 4 votes for conviction and 2 for the acquaintance. Seva represented against VDO for sham litigation and invitation to collude in the tachographs.
It is also worth mentioning, although not included at CADE’s Bulletin, the analysis of a settlement proposal in connection to a cartel investigation in the air cargo industry. We will comment on it in an specific post, later on today.
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