Peru merger control (2019)
Produced in partnership with Payet, Rey, Cauvi, Perez Abogados
Peru merger control (2019)

The following Competition guidance note Produced in partnership with Payet, Rey, Cauvi, Perez Abogados provides comprehensive and up to date legal information covering:

  • Peru merger control (2019)
  • 1. Have there been any recent developments regarding the Peruvian merger control regime and are any updates/developments expected in the coming year? Are there any other 'hot' merger control issues in Peru?
  • 2. Under Peruvian merger control law, is the control test the same as the EU concept of ‘decisive influence’? If not, how does it differ?
  • 3. Are joint ventures caught by the national merger control provisions (including non-structural, cooperative joint ventures)?
  • 4. What are the merger control thresholds and would a purely foreign-to-foreign transaction be caught (commenting on any ‘effects’ doctrine/policy if relevant)?
  • 5. Are there any specific issues parties should be aware of when compiling and calculating the relevant turnover for applying the jurisdictional thresholds?
  • 6. Where the jurisdictional thresholds are met, is notification mandatory and must closing be suspended pending clearance?
  • 7. Is it possible to close the deal globally prior to local clearance?
  • 8. Is there a deadline for filing a notifiable transaction and what is the timetable thereafter for review by INDECOPI?
  • 9. Who is responsible for filing a notifiable transaction (noting also whether there is a specific form/document used and an applicable filing fee)?
  • more

A conversation with Carlos A. Patrón, partner at Peruvian law firm Payet, Rey, Cauvi, Pérez Abogados, on key issues on merger control in Peru.

NOTE–to see whether notification thresholds in Peru and throughout the world are met, see Where to Notify.

1. Have there been any recent developments regarding the Peruvian merger control regime and are any updates/developments expected in the coming year? Are there any other 'hot' merger control issues in Peru?

On 2 May 2019 the Peruvian Congress passed a new mandatory and suspensory clearance regime (Merger Control Law, the MCL).

Previously, Peruvian legislation only imposed mandatory pre-notification and clearance requirements for vertical or horizontal concentrations occurring in the fields of electricity generation, transmission or distribution (Law No 26876, the Antitrust and Anti-oligopoly Law for the Electricity Sector, the AAL). The AAL will be abrogated once the MCL is in force.

There will be a one calendar year stay before the MCL takes legal effect. Concentrations occurring prior to then will not be subject to administrative authorisations, except for vertical or horizontal concentrations occurring in electricity market that will continue under the AAL, until the new MCL takes effect.

All merger review responsibilities will be consolidated into the remit of INDECOPI, Peru’s multi-purpose market overseer, which has already began planning for the new regime. The Competition Commission at INDECOPI, which already investigates