Open AccessGUN JUMPING IN BRAZILIAN ANTITRUST LAW: A CASE STUDY IN THE OIL INDUSTRY
Author(s) -
Clarissa Brandão,
Aline Teodoro de Moura
Publication year - 2018
Publication title -
panorama of brazilian law
Language(s) - English
Resource type - Journals
ISSN - 2318-1516
DOI - 10.17768/pbl.v2i2.p193-212
Subject(s) - consummation , legislation , legislature , order (exchange) , law , business , law and economics , political science , economics , finance
This article presents some of the main changes introduced in the Brazilian antitrust system with the publication of Law no. 12.529, 2011, which introduced important changes in the control of acts of economic concentration - mergers, acquisitions, formation of joint ventures – which now began to be performed by the competent authority prior to the act of concentration, avoiding the consummation of transactions without the consent of CADE and analyzes the concept of Gun Jumping. The legislative change imposes a challenge for the Brazilian antitrust system: to define the boundaries between a lawful process of economic concentration and a Gun Jumping practice. In particular, a study was conducted on these impacts on the national oil industry in order to evaluate the performance of CADE in the implementation of the legislation.