Practice Areas
Antitrust
As in the rest of the world, in Chile processes of concentration have been developed at important areas of the economy through acquisitions and mergers of companies. Chilean legislation has introduced a significant modernization of institutions dedicated to the protection and promotion of free competition and a section that regulates the notification of concentration operations.
Our firm has effectively advised its clients in structuring of their businesses, acquisitions and mergers, in order to avoid the infringement of antitrust regulations, and has successfully defended their interests in administrative and judicial instances provided by the legal system.
Advise to Grupo Hurtado Vicuña on the takeover by Inversiones Caburga Limitada, holding company of Cementos BSA, of 100% of the shares owned by Holchile S.A. (LafargeHolcim) in Cemento Polpaico S.A., a Chilean listed company and one of the three major cement actors in Chile.
Key role advising buyer on M&A and antitrust matters, including negotiating SPA, public offer of shares and the first agreement of 2017 with the Chilean Antitrust authorities after a 10 month process and hearings from the parties.
In addition to considering a structural measure of mitigation, the agreement reached introduced innovations that represent various elements previously unused in terms of competition in Chile and reflected the important influence that the development of this discipline has had in jurisdictions with an earlier evolution. Among other novelties, the Agreement stipulated the appointment of a "trustee" and the implementation of a "market test", under the supervision of FNE. Other elements incorporated, refer to the use of ingenious mechanisms to safeguard the separation of management and confidential information.
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