The Brazilian competition tribunal (CADE) has rejected clearance to the acquisition of concrete services assets from Cimentos Tupy by Polimix Concreto.
According to the Reporting Commissioner Fernando Furlan, the transaction would result in high market shares in a series of municipalities and harm competition, while there would be no compensatory efficiencies to allow approval of the deal.
The remaining Commissioners unanimously agreed with Furlan, highlighting the correction of his approach regarding the calculation of market shares - summing up the shares of all companies on which the controling group of Polimix has (even minority) equity interest,
According to CADE's decision the acquired assets shall be returned to Tupi within 30 days from the publication on the Official Journal.
No comments:
Post a Comment