Antitrust review of mergers, acquisitions, and joint ventures in Brazil

Abstract

In 1994 Brazil adopted a new antitrust law that establishes a mandatory review process for mergers, acquisitions, and joint ventures by an independent enforcement agency.1 While antitrust law in Brazil dates back to 1962, the new law expands the scope of antitrust enforcement to allow for independent agency review of mergers, acquisitions, and joint ventures. Moreover, Brazil’s new Competition Act compels firms to notify transactions to the government. This mandatory reporting requirement aligns Brazil with the United States, European Union, and a growing number of other jurisdictions that have established independent competition agencies to enforce merger control laws.