Perú: The new merger control law has been officially published

Essentially, both the previous as well as the new merger control law are very similar[1]. The main differences are the following:

• The law will enter into force within a maximum of 45 days after its publication.
• The notification thresholds will take into consideration not only gross sales or income, but also the value of assets of the companies involved in the transaction.
• The Peruvian antitrust agency (Instituto Nacional de Defensa de la Competencia y de la Protección de la Propiedad Intelectual – Indecopi) may act ex officio if it considers that there is reasonable criteria to conclude that the transaction may generate a dominant position or affect effective competition in the market.
• Parties may opt to notify the transaction voluntarily if the transaction does not meet the notification thresholds.
• Concentrations that involve companies from the financial system that receive deposits from the public or insurance companies, when they are in a situation that may compromise their solidity or stability (systemic risk), will only require approval from the Banking and Insurance Superintendency (Superintendencia de Banca, Seguros y Administradoras de Fondos de Pensiones -SBS).