Review № 2 of Brazilian Antitrust News from the Experts of the BRICS Competition Centre
- Paper Excellence and J&F concluded long-standing dispute
- First international CADE award
- Investigation of anti-competitive practices in the port of Santos
- CADE publishes strategy until 2028
- Brazil approves Cobasi-Petz merger
- Copagril and Paraná Supermercados proceed without CADE approval
Paper Excellence and J&F concluded long-standing dispute
On June 3, CADE unconditionally approved the acquisition by Brazilian conglomerate J&F of the stake held by Canadian-Indonesian Paper Excellence in Brazilian pulp and paper company Eldorado Celulose.
The deal, initiated in 2017, was delayed until May 2025 due to legal disputes over the validity of the contract and the sale and transfer of share control of Eldorado Celulose. Paper Excellence sought to complete the share sale, while J&F attempted to cancel the agreement.
CADE’s decision also terminated related international legal proceedings. Following the ruling, J&F made a one-time payment of $2.7 billion to purchase Eldorado Celulose’s shares.
Source: CNN Brasil
First international CADE award
On June 11, the first International CADE Award was presented, recognizing non-Brazilian individuals who have made significant contributions to the development of competition policy in Brazil and globally.
The inaugural recipient was French professor Frédéric Jenny, President of the OECD Competition Committee.
A renowned expert in antitrust law, during his tenure at the OECD, Jenny advanced the modernization of Brazil’s competition policy through collaboration with Brazil’s antitrust authority. Additionally, he supported the work of the Latin American and Caribbean Competition Forum, established to strengthen cooperation among antitrust agencies in the region.
Source: CADE
Investigation of anti-competitive practices in the Port of Santos
On June 12, CADE launched an investigation into anti-competitive practices at the Port of Santos, Brazil’s largest port, located near São Paulo. Authorities suspect that companies providing vessel pilotage services engaged in price-fixing with maritime carriers.
It is alleged that pilotage service providers, acting through associations, interacted directly with maritime carriers or indirectly through their associations. The suspected collusion targeted minimum tariffs for services in the port region. Some representatives of the involved companies have already acknowledged the existence of such practices in the Port of Santos.
These violations are believed to have been occurring since 2020.
Source: Datamar News
CADE publishes strategy until 2028
On June 13, Brazil’s antitrust authority launched its new Strategic Plan for 2025–2028. The strategy’s slogan is “Competition to Transform Brazil”.
Alongside CADE’s core activities, the plan emphasizes the importance of advancing the agency’s digitalization and intensifying data utilization. The agency aims to effectively continue its Digital Transformation Plan, designed to enhance access to CADE’s services. Additionally, improvements to the e-Notifica automatic merger notification system will continue.
Source: CADE
Brazil approves Cobasi-Petz merger
The regulator unconditionally approved the merger of Cobasi and Petz, companies engaged in retail and wholesale of pet supplies and the provision of veterinary services.
When analyzing the retail pet supply market, CADE did not rule out increased economic concentration in certain geographic markets due to the merger. However, the regulator concluded that potential negative effects are mitigated by low barriers to market entry, a diverse range of competitors, and a large number of competing companies.
Additionally, CADE noted that the pet supply market is characterized by structural diversity, with no dominant business format. Large commercial chains, marketplaces, supermarkets, small agricultural stores, and pet shops are all capable of exerting competitive pressure on the merged Cobasi-Petz entity.
Source: CADE
Copagril and Paraná Supermercados proceed without CADE approval
Brazil’s antitrust regulator flagged actions by Cooperativa Agroindustrial Copagril and Paraná Supermercados in Paraná state for engaging in a concentration transaction without prior antitrust review, a practice known as “gun jumping.”
The transaction involved Copagril’s acquisition of a Paraná Supermercados retail outlet in the city of Cianorte in December 2023.
The parties are now required to submit proper notification to CADE for further analysis of the concentration deal.
Copagril, an agribusiness cooperative, unites approximately 8,300 agricultural producers in the states of Paraná and Mato Grosso do Sul. It specializes in the production and commercialization of grains, agricultural raw materials, and feed, and operates a small network of stores and supermarkets.
Source: Portal Tela
