In order to strengthen the merger control regime in force in Chile since June 2017, the National Economic Prosecutor (FNE) has recently issued two internal guidelines with the objective of providing legal certainty to economic agents who intend to merge, and who must require prior authorization from the FNE for such purposes, to provide predictability to such process and a rapid response.
Public Consultation of the new version of the Guidelines for the Horizontal Merger Analysis
The public consultation, which will remain open until 11 June, has the objective of gathering the opinions of the antitrust community in order to prepare a document that provides greater certainty and predictability to the market regarding the conceptual framework that the FNE will use to analyze the impact on competition of a horizontal merger, that is, between competitors.
Comments about the content of the Guidelines should be sent to the following address: [email protected].
For more information on Guidelines for the Horizontal Merger Analysis, click here.
I. Guidance on Pre-Notifications of Merger Transactions
The FNE published the Pre-Notification Guidance for Merger Transactions, which formalizes a voluntary pre-notification process, in which companies that plan to merge can contact the Merger Division to ask questions about an eventual notification.
By promoting Pre-Notification, the aim is to accelerate the merger control assessment. The document details how this stage will be developed, and what can be obtained during this stage. The Guidance describes the terms and deadlines in which the FNE will respond to the consultations received, including in certain cases the possibility of obtaining a written response, which can provide legal certainty to undertakings of the obligation to submit to the mandatory merger control regime in the country.
Likewise, the Guidance establishes two applicable procedures: one for simple queries and another for complex queries and/or assessment of future notifications, and commits that they will be handled diligently and within pre-established deadlines, in order to provide greater certainty to future notifying parties.
For more information on Guidance on Pre-Notifications of Merger Transactions, click here.