Peruvian merger control regime
The Congress of the Republic of Peru approved Bill No. 5913/2020. It modifies the Peruvian merger control regime.January 5, 2021
On December 30th, 2020, the Congress of the Republic of Peru approved Bill No. 5913/2020 (hereinafter the “Law”). It modifies the Peruvian merger control regime. The Law will enter into force 45 days after its publication in the official gazette, which took place on January 7, 2021..
As a result, the Law establishes that all economic transactions - involving a change (or transfer) of control with effects in Peru and that meet specific economic thresholds - require an authorization from the competition authority (INDECOPI) before closing. Unauthorized transactions will be considered void and can be dissolved by the authority.
A team composed of PPU and Uría Menéndez lawyers is constantly monitoring the situation and has elaborated a brief outline underlining the practical implications of this new regime, which can be consulted here.