Colombia: Resolution 90556 of December 29, 2016
The Superintendence of Industry and Commerce, by means of Resolution 90556 of December 29, 2016, reduced the thresholds that must be taken into consideration in order to trigger merger control procedures.
Since 2012, the SIC had determined that any merger between two companies whose operational income and / or total assets were of at least 100,000 legal minimum monthly salaries would be relevant for the competition authority. (By 2016 the threshold was COP $ 68,945,400,000, approximately USD $ 23,000,000 - EUR € 20,000,000).
As of January 1, 2017, this threshold has been reduced to 60,000 legal minimum monthly salaries, an amount equivalent to COP $ 44,263,020,000 (approximately USD $ 14,755,000 or EUR 13,800,000).
According to the SIC, the decision of reducing the threshold in 40% responds to the need of maintaining representativeness and macro-sector coverage in merger control procedures, as well as to the notable reduction of companies that would exceed the former threshold, according to the reports of the Superintendence of Corporations (around 50%).
To access the full text of Resolution 90556 of December 29, 2016, please follow this link.
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