Firms To Watch: Competition and antitrust

Established in 2020, Chinaglia Oliveira Advogados is quickly establishing a good reputation in the field of competition and antitrust, where Olavo Chinaglia has notable experience and a strong client base.
Competition law specialist Paula Salles has hit the ground running since her arrival at Felsberg Advogados in 2019; her areas of expertise include merger control and conduct cases.
At Gentil Monteiro, Vicentini, Beringhs e Gil Advogados, founding partner Pedro Vicentini has an active merger control practice, and also has significant knowledge of private antitrust litigation and antitrust investigations.

Competition and antitrust in Brazil

BMA - Barbosa, Müssnich, Aragão

With a well-established reputation in competition and antitrust, BMA – Barbosa, Müssnich, Aragão is a popular choice for leading Brazilian and international companies operating in a wide range of sectors, from life sciences to aviation to technology. The firm’s leading position in the M&A market is of note; the competition department is regularly instructed in complex cross-border merger review cases. In addition to obtaining antitrust clearance for large-scale corporate transactions, the team is also well versed in CADE investigations into potential cartels, unilateral conduct and bid rigging. Outside of handling headline-grabbing cases, its lawyers also advise clients on the competition risks in day-to-day conduct and on designing and implementing compliance programmes. The department is ably led by well-known competition expert Barbara Rosenberg, and also includes highly regarded partners José Inacio Ferraz de Almeida Prado Filho and ​​Camilla Paoletti. Combining expertise in competition and data protection, Luís Bernardo Cascão is particularly strong in antitrust matters involving technology and digital companies.

Practice head(s):

Barbara Rosenberg


Excellence from the partners and team.’

Camilla was always very responsive and cost efficient.’

Quick reaction and clear advice.’

José Inacio Almeida Prado Filho is recommended.’

Key clients



AB InBev






LATAM Airlines


Work highlights

  • Assisted Adtalem in obtaining antitrust clearance in Brazil of the sale of its Brazilian activities in the educational sector to Estácio Participações.
  • Assisted DuPont in obtaining antitrust clearance in Brazil of the proposed acquisition of sole control over its Nutrition & Biosciences business by International Flavors & Fragrances.
  • Assisted EssilorLuxottica in obtaining merger control clearance in Brazil for its intended global acquisition of GrandVisio, both major players in the optical industry.

Grinberg Cordovil Advogados (GCA)

'Undoubtedly a reference in competition law', leading competition boutique Grinberg Cordovil Advogados (GCA) fields a 'well-integrated team, with a long period working together, that manages to deliver excellent results'. The team counts Fortune 500 companies among its clients, and has a strong track record and market share in cases in the shipping, technology and digital, financial services and life sciences sectors, among others. Cartel, abuse of dominance and unilateral conduct cases are among the firm's main strengths, and the team is also well versed in complex merger filings. Leonor Cordovil 'can always make herself clear, whether for a lay public, executive or in the relationship with the authority'; she jointly leads the practice alongside Mauro Grinberg, who is 'recognised for his expertise and excellence'. Also receiving praise are 'exceptional lawyer' Karen Ruback, Beatriz Cravo, who is 'extremely technical and diligent', Ricardo Motta, noted for his 'excellent advice' and associate Bernardo Leite. Besides having a stable core team of experienced partners, the firm has also seen growth, most recently with the hire of senior associate Letícia Barros in November 2020.

Practice head(s):

Leonor Cordovil; Mauro Grinberg


The dedication and knowledge of the office is something that makes it unique. A well-integrated team, with a long period working together, that manages to deliver excellent results and, due to a long-standing partnership, manages to assist with versatility and agility, which is always necessary for our company.’

The office is undoubtedly a reference in competition law, with experienced lawyers who are extremely committed to the client. Always attentive and approachable, they provided extremely valuable and cost-effective advice.’

Dr. Mauro Grinberg is a benchmark in competition law, with many years of experience in the sector and recognised for his expertise and excellence. In addition to Dr. Mauro, we worked with Dr. Ricardo Motta, who provided excellent advice, always showing himself to be very available and helpful.’

Leonor Cordovil is a unique person in the market, with knowledge in several areas that add and deliver outstanding results. Ricardo Mota has always shown interest in the business of the company, because understanding our operation made him able to deliver results beyond what was expected over past years. Bernardo Leite has always worked on company matters, since he joined the office and, like Ricardo, tries to understand the needs and peculiarities of the operation in order to deliver very good results.’

We’ve had the chance to work with GCA’s lawyers on both merger and antitrust investigations and they provide pragmatic and bespoke advice. They understand that in-house counsels need to be briefed with a clear risk assessment so that we can convey the message internally. GCA’s lawyers are always available on short notice which is highly appreciated.’

Karen Ruback is an exceptional lawyer who demonstrates an in-depth knowledge of Brazilian competition laws and CADE’s procedures. She is able to set out a strategy at an early stage of each case and can factor in any unanticipated setback. She is super accessible and her calm attitude no matter the circumstances makes it super easy and nice to work with her.

Leonor Cordovil is a lawyer with a lot of knowledge and energy. She can always make herself clear, whether for a lay public, executive or in the relationship with the authority. Beatriz Cravo is extremely technical and diligent in handling cases – she is very studious and soon masters complex subjects and subjects.’

They have an excellent team. Mauro Grinberg and Karen Ruback are two of the best lawyers I have worked with – really top notch!

Key clients

Google Brasil Internet


JP Morgan Chase

Visa Brazil

BTG Pactual Bank

Sony Pictures Entertainment


Shell Brasil

Raízen Combustíveis

Denso Corporation



Ball Corporation

Techint Engenharia e Construção


Siemens Energy




The Dow Chemical Company

Aspen Insurance


Hitachi Metals

Tecon Suape



SA Paulista

Mercado Bitcoin Serviços Digitais



Companhia Brasileira de Alumínio





Work highlights

  • Representing Google in an ex officio probe regarding the use of content from third-party news sites in thematic search results and the need to pay for this content.
  • Representing DENSO in three highly sensitive cartel investigations, all of which centre on relevant legal discussions (e.g., international cartels and jurisdiction, standard of proof and collaborating agreements, etc.).
  • Representing Siemens in successfully negotiating a settlement agreement in an investigation of a cartel in public bids concerning orthoses, prostheses and special materials markets.

Advocacia Del Chiaro

At well-known antitrust boutique Advocacia Del Chiaro, ‘the partners act proactively, seeking specific solutions for the client’s business‘. The firm is particularly prominent in investigations involving potential anti-competitive conduct, and is entrusted by household name companies in sensitive cases. Its representation of Google in CADE’s Android investigation, which examines conduct previously investigated by the European Commission in its high-profile case, is just one example. The firm has seen recent growth, with the promotion of the highly regarded Luiz Felipe Rosa Ramos to partner in December 2020, and the hire of new associates Carolina Furlani and Maria Eduarda Scott in October and November 2020, respectively. The department is jointly led by seasoned antitrust expert and name partner José Del Chiaro, who is noted for his ‘ample technical capacity‘ and ‘good relationship with the legal community‘, and the ‘spectacularAdemir Antonio Pereira Júnior, who ‘stands out for his dynamism and leading role‘. Associate Yan Villela Vieira also receives praise.

Practice head(s):

Jose Del Chiaro; Ademir Antonio Pereira Júnior


The firm presents solid technical knowledge of the subject under discussion and a strategic approach that goes beyond material law. In terms of competition law, they have high performance, including academic, from the publication of articles and participation in discussion forums. In addition, they have a relevant exchange with other offices and specialists.

Quick responses. Accessible. Competitive costs.

José Del Chiaro, partner, ample technical capacity, good relationship with the legal community, strategic and provocative vision. Luiz Felipe Rosa, partner, with solid technical skills, project leadership skills and good relationship with the legal community.’

The office has different knowledge in the area of defense of competition and high reputation. The partners act proactively, seeking specific solutions for the client’s business.’

Ademir Pereira Jr. stands out for his dynamism and leading role, deep knowledge of the theme and sectors of the client, with availability and business vision.’

Luiz Felipe Rosa Ramos: intelligent, well prepared, productive, easy to deal with, objective.’

What makes Advocacia Del Chiaro unique is the quality of the service provided, the availability of partners and associates and treatment with clients.

The partner Ademir Pereira Junior is spectacular! Excellent technique and always accessible and committed to work. Associate Yan Villela Vieira also does an excellent job.’

Key clients












Tokio Marine Kiln

Gilead Sciences




Banco Fibra

Banco Inter



Associação Neo

Algar Telecom






Oji Group




Work highlights

  • Acted as lead counsel for Google in the Android and Local Universal investigations.
  • Representing TMK in in a recent investigation focused on the alleged exchange of sensitive information by brokers and underwriters in the aviation and aerospace insurance industry.
  • Represented Google in the merger review of its acquisition of Fitbit.

Magalhães e Dias - Advocacia

As 'pioneers' in the area of competition and antitrust, the lawyers at Magalhães e Dias - Advocacia are regularly involved in some of the most high-profile and complex cases in the market, and are highlighted for their 'commitment, expertise and availability'. As a specialised economic law boutique, the team also has ancillary expertise in consumer law, international trade and litigation. The firm's broad behavioural practice sees it handling investigations into a wide range of potential anti-competitive conduct, and its strength in this field is also illustrated by its involvement in complex merger filings for major companies. In one example, the firm advised Nacional Gás Butano (from Grupo Edson Queiroz) in the landmark acquisition of Petrobras-owned LPG distribution company Liquigás by a buying group formed by Grupo Edson Queiroz, Copagaz, Fogás and Itaúsa. Leading the sizeable team is Gabriel Nogueira Dias, who is 'without a doubt, one of the lawyers who most understands competition defence in Brazil'. Other names to note include Francisco Niclós Negrão, Raquel Candido in the Brasília office, Thais De Sousa Guerra, Yi Shin Tang and Hermes Nereu Oliveira.

Practice head(s):

Gabriel Nogueira Dias


It is an office with a lot of expertise in the segment in which we operate, which makes them a differentiated consultancy and advisory. There is still a lot of commitment, expertise and availability.

Gabriel Dias and Thais Guerra are two unique professionals, with a lot of availability and flexibility in order to better address the needs of customers.’

‘The office is undoubtedly one of the specialized firms that has been working with the subject for a long time, being pioneers and having knowledge, not just technical, but historical and institutional that brings a differential in the analysis of themes.’

Gabriel Nogueira Dias is, without a doubt, one of the lawyers who most understands Competition Defense in Brazil. He is a great partner and knows several industries and businesses, bringing a lot of contribution to the issues of the companies. He is an available partner with deep technical and institutional knowledge.’

Key clients




AMBEV – Cia. Brasileira de Bebidas

ABA – Associação Brasileira de Anunciantes (Brazilian Advertisers Association)





Grupo Edson Queiroz


ABIEC – Associação Brasileira de Indústrias Exportadoras de Carne

ANDA – Associação Nacional para Difusão de Adubos

Condomínio Shopping Center Iguatemi

Epson Imaging Devices Corporation

Fiat Chrysler

General Motors

Instituto Jogue Limpo


M. Dias Branco



Suzano Papel e Celulose


VLI – Logística

GTM Chemicals


Work highlights

  • Represents Nacional Gás Butano (from Grupo Edson Queiroz) in merger control aspects of a landmark transaction in the sector of liquefied petroleum gas.
  • Representing Bayer and Monsanto in an administrative procedure to investigate alleged abuse of dominance in matters concerning conditioned discounts, market foreclosure and exclusivity.
  • Advising Kuehne + Nagel in an antitrust probe trying to establish the existence of a cartel in the freight forward market.

Mattos Filho, Veiga Filho, Marrey Jr. e Quiroga Advogados

'A first choice for Brazilian merger control cases', Mattos Filho, Veiga Filho, Marrey Jr. e Quiroga Advogados has the size, experience and resources to handle complex merger filings involving major companies in domestic and international transactions. Of particular note is the firm's impressive track record in negotiating remedies in merger cases with CADE. The competition team is also well versed in conduct investigations, including in the negotiation of leniency agreements and settlements. Its clients are active across multiple sectors, and benefit from the firm's full-service offering, which allows it to field multi-disciplinary teams to cover related issues involving regulatory, corporate and compliance matters, among others. Renata Fonseca Zuccolo Giannella and Lauro Celidonio Gomes dos Reis Neto stand out for their ability to 'assess with a high degree of accuracy the outcome of a case and to then strategically work towards achieving this outcome'. In a significant move, Eduardo Frade joined the firm from Vinicius Marques de Carvalho Advogados in August 2021. Other key contacts include Michelle Marques Machado, Marcio Dias Soares and New-York based antitrust partner Amadeu Ribeiro. Senior associates Frederico Bastos Pinheiro Martins, Ana Carolina Estevão and Paula Camara Baptista de Oliveira are also noted.


A great differential of the office is the quality of the multidisciplinary team, which makes them the preferred office for projects of this nature.’

Maria Fernanda de Almeida Prado e Silva, Michelle Marques and Paulo Marcos Rodrigues Brancher are partners of great capacity and competence.

The Mattos Filho competition law team are a first choice for Brazilian merger control cases. They are excellent at guiding clients through complex cases, in particular at anticipating questions from the officials at CADE and making bespoke submissions and presentations that help achieve the desired outcome for the client.

Lauro Celidonio Gomes dos Reis Neto and Renata Fonseca Zuccolo Gianella stand out among their peers in Brazil. This is due to their ability to guide clients through complex merger cases, to assess with a high degree of accuracy the outcome of a case that the client may realistically expect and to then strategically work towards achieving this outcome.’

Renata Fonseca Zuccolo Giannella is a star. She manages to reduce the complexity of the themes and always has a pragmatic solution to the challenges that are presented.’

Key clients

FCA – Fiat Chrysler Automobiles

Sumitomo Corporation



The Carlyle Group



International Paper

Raia Drogasil


Work highlights

  • Advised Fiat Chrysler Automobiles on obtaining antitrust clearance for the merger with Peugeot to create Stellantis, the fourth largest automaker in the world.
  • Advised Elanco on obtaining antitrust clearance for the $7.6bn global acquisition of Bayer’s animal health division.
  • Advised Naspers and OLX on obtaining antitrust clearance for the acquisition of OLX’s largest rival ZAP for a consideration of roughly R$3bn.

Pinheiro Neto Advogados

Incredibly responsive to outside counsel and client requests‘, Pinheiro Neto Advogados is praised for its ‘very thorough understanding of Brazilian antitrust laws‘ and ‘excellent understanding of business-related issues‘. With a long history in the market, the firm has established a leading reputation in the field of competition; having originated from the firm’s dispute resolution department, it is particularly adept in administrative proceedings before CADE, as well as in litigation. Also of note is the firm’s extensive experience in obtaining merger clearance for large-scale corporate transactions, with the firm’s position among the top M&A firms in the country ensuring a steady flow of cases. Cristianne Saccab Zarzur maintains a balanced competition practice that takes in merger control, investigations, compliance programmes and indemnification claims, and the ‘extremely business-oriented‘ and ‘highly trustworthy antitrust lawyerJosé Alexandre Buaiz Neto complements his competition law practice with expertise in compliance and litigation. Renê Medrado is also recommended, as are associates Alessandro Pezzolo Giacaglia, Luis Henrique Perroni Fernandes and Lucas Moreira Jimenez. In recent developments, senior associate Jackson de Freitas Ferreira joined the firm from TozziniFreire Advogados in February 2021.


Despite the size of the office (one of the largest in Brazil), Pinheiro Neto Advogados’ team manages to maintain proximity to its clients, providing a “bespoke service”, taking into account peculiarities of business or the client’s own corporate culture. I’d also emphasise the maintenance of easy access in communication with the client (returns are given in a short time, either by the partner or other team members).’

Incredibly responsive to outside counsel and client requests, as well as having great in depth knowledge about process and strategy in very complex matters.’

The whole team was very responsive and connected to the process. Rene Medrado in particular was my go to on all matters, but was also supported by a great team in Alessandro Giacaglia, Luis Henrique Fernandes, and Lucas Moreira Jimenez.’

José Alexandre Buaiz: Aside from the professional’s technical knowledge, his strategic and negotiating skills, which are fundamental to achieving the best result for the client, are of note, even if one is in a negotiation difficult for a leniency agreement.’

Very thorough understanding of Brazilian antitrust laws. Excellent understanding of business-related issues. Very pragmatic and constructive counseling approach.’

José Alexandre Buaiz Neto: excellent highly trustworthy antitrust lawyer. Great judgement, extremely business-oriented.’

Key clients


Prosegur Group

Boston Scientific Corporation

Banco de Investimentos Credit Suisse (Brasil)


Abbott Laboratórios do Brasil

Philips Healthcare






Saint-Gobain do Brasil Produtos Industriais e para Construção


American Express

The Boeing Company

Robert Bosch

Evonik Brasil

NotreDame Intermédica


Work highlights

  • Acted on behalf of Fras-le in an alleged cartel investigation in the market for clutch facing.
  • Representing Acciona in an alleged cartel investigation involving tenders of the Brazilian public company Valec Engenharia Construções e Ferrovia.
  • Acted on behalf of SBM in the merger control aspects of its acquisition of interest in five Floating Production Storage and Offloading (FPSO) vessels from Constellation.

TozziniFreire Advogados

TozziniFreire Advogados has ‘a great antitrust practice with a number of renowned and excellent lawyers that are truly dedicated to the needs of the client‘. The firm earned its reputation in the top echelons of the Brazilian antitrust market through its years of experience in complex and high-profile cases, and thanks to the excellent reputation of its partners, including practice head and former CADE commissioner Marcelo Calliari. The firm stands out for its track record in leniency agreements, where it has solid experience and a large market share. Its ability to handle conduct cases is also boosted by its ability to collaborate with the firm’s compliance and white-collar criminal law experts, allowing it to handle complex investigations involving multiple agencies. Merger filings are another notable area of strength for the experienced department, which includes key practitioners Vivian Fraga, Guilherme Ribas, Marcel Medon Santos, Patricia Bandouk Carvalho and Tatiana Lins Cruz. In a recent significant development, Mario Pati was promoted to partner in 2020; he balances a broad competition practice and also has knowledge of internal investigations and the FCPA. Senior associate Jackson de Freitas Ferreira left the firm in February 2021.

Practice head(s):

Marcelo Calliari


They have incredible strength in depth – we are familiar with Guilherme Ribas, Tatiana Lins Cruz and Marcelo Calliari and they are all first-rate. Very responsive, great to deal with and they know how to get things done. Approachable and extremely responsive, they consistently deliver exceptional client service.’

Tozzini has a great antitrust practice with a number of renowned and excellent lawyers that are truly dedicated to the needs of the client.’

I very much enjoy working with Marcelo Calliari, Marcel Sedon Santos and Vivian Fraga that work as a true team and seamlessly. They are my go-to advisors at Tozzini.’

Marcel is always very up-to-date, with the latest trends from CADE, presents assertive opinions, profound, addresses risks, but also presents effective solutions to the business. The contact is very personal with the partner and Venicio, adding value to the company.’

Marcel Santos: Availability, Efficiency, Speed in Responses, Depth of Responses, Presents risks, but also alternatives, Pro-Business Vision. Venicio Branquinho Pereira Filho: Has the same characteristics as partner Marcel.’

Marcel Medon Santos and Vivan Fraga are recommended.’

Key clients











Work highlights

  • Represented ABB in the underground and submarine cables international cartel investigation with effects in the Brazilian market.
  • Acted for Colgate / Philips in the merger filing of a transaction to establish a global collaboration for a co-branded powered toothbrushes and interdental devices business.
  • Represented IIAA/Navistar Engine in an abuse of dominance (refusal to deal) probe. In April 2020, CADE decided to dismiss the proceeding.

Caminati Bueno Advogados

One of the newer competition boutiques in the market, Caminati Bueno Advogados has quickly established itself as one of the top players in this field. Its ability to handle complex anti-competitive conduct cases involving potential cartels and unilateral practices is of note. Also impressive is the firm’s market share in merger filings, with recent highlights including its representation of major real estate company Gafisa in multiple merger notification proceedings. The team is jointly led by experienced partners Eduardo Caminati Anders and Marcio de Carvalho Silveira Bueno. The department also draws on the expertise of Guilherme Misale, and recently expanded at the associate level with several promotions and hires, including Beatriz de Figueiredo Coppola and Tatiane Kimie Matsumoto Siqui, who joined in March and August 2020, respectively.

Practice head(s):

Eduardo Caminati Anders; Marcio de Carvalho Silveira Bueno

Key clients

Agência Africa



Société Générale



BR Distribuidora


Santos Brasil

Mercado Livre





Cirúrgica Rioclarense

Nakata Automotiva


Grupo Pão de Açucar

EDF Energy Group

Andrade Gutierrez


Citi Group

Balfour Beatty


WW Ocean


Soma Group

RPH Group (Radiopharmacus)



Rede D’Or São Luiz

Ygeia Medical

Elliott Associates

Vita Participações

Credit Suisse

Work highlights

  • Advising news publishers against Google in an abuse of dominance matter.
  • Advising Andrade Gutierrez in several antitrust investigations in connection with the sprawling Car Wash operation and its connections.
  • Advising White Martins in a merger filing involving the sale of GásLocal’s stakes in the context of Petrobras’s global strategy to significantly reduce its activities in the downstream gas market.

Cescon, Barrieu, Flesch & Barreto Advogados

The competition department at Cescon Barrieu goes from strength to strength. Noted for its 'exceptional service', the team is well versed in merger filings, where it has a significant market share, including in complex cases and those requiring remedies negotiations. Among the department's recent standout cases was its representation of Copagaz in the merger filing related to the high-profile acquisition of state-run Petrobras’ former subsidiary Liquigás for R$3.7bn. Another key pillar of its practice is conduct cases, where it has developed an active practice representing clients - including major Brazilian companies - in sensitive investigations and administrative proceedings. Joyce Midori Honda is a 'spectacular, committed and available professional'; she co-leads the practice alongside 'excellent antitrust practitionerRicardo Lara Gaillard. Senior associate Leonardo Mansur Lunardi Danesi is another name to note.

Practice head(s):

Joyce Midori Honda; Ricardo Lara Gaillard


The office provides an exceptional service, with excellent cost-benefit and a lot of technical knowledge.’

Joyce Honda is a spectacular, committed and available professional. Much technical knowledge, highly recommended!

Working with us for 10 years, the team shows consistent technical, strategic competence, with anticipation of scenarios, real case studies in a strategic way and in order to achieve the best results. In all this time, it presents a high level of performance, giving priority to transparency and technical competence. In 10 years we have never had a disappointing result.’

They are super responsive, very committed and hardworkers.

Ricard Gaillardo – he is an excellent antitrust practitioner. He understands very well the needs of the clients and has an excellent antitrust knowledge. He also has a very good understanding of how the authority (CADE) opearates.’

Ricardo Gaillard is the brilliant and strategic mind behind success in service. Technically competent and also in the necessary soft skills for better service, such as inter-relational skills, strategic communication and a sense of timing, has shown a sense of partnership.’

Key clients


Edenred Group

Hypera Pharma

BNP Paribas





Smart Fit


Work highlights

  • Advised Hypera Pharma on the antitrust clearance of the R$1.3bn transaction through which the company acquired the painkiller brand Buscopan from German company Boehringer Ingelheim.
  • Advising LPG distributor Copagaz in the merger filing related to the acquisition of Liquigás for R$3.7bn.
  • Retained by Bionovis to assist in three different merger filings involving the transfer of technology for manufacturing high complexity biological medicines, from Janssen, Samsung and Sandoz/Novartis, in the context of productive development partnerships between Bionovis and the Brazilian Ministry of Health.

Demarest Advogados

The highly regarded competition department at Demarest Advogados 'secures great results for clients'. The team continues to grow its already well-established practice, generating its own clients and attracting instructions in sophisticated merger filings even where the firm's M&A department was not involved. Outside of its large market share in merger clearance, the team also maintains a busy and buoyant behavioural practice, regularly representing clients in investigations initiated by CADE concerning cartels and anti-competitive conduct and related litigation. Paola Pugliese is regularly sought out for her extensive antitrust knowledge by Brazilian and multinational companies that are leaders in their industries; Bruno Drago stands out for his expertise in abuse of dominance and follow-on damages cases; Milena Fernandes Mundim 'knows the CADE process inside out and always delivers for clients'; and Daniel Oliveira Andreoli also balances a broad practice, and is noted for his ability to handle leniency negotiations. Senior associates Fabianna Morselli and Brasília-based Marco Antônio Fonseca are also noted.


The team at Demarest is responsive and solution-oriented. They secure great results for clients on quick timing.’

I instruct Milena Mundim from Demarest on my matters. She is a bright competition lawyer, who knows the CADE process inside out and always delivers for clients.’

Key clients







Delta Airlines





Work highlights

  • Represented Bombardier in the sale of its €6.2bn railroad rolling stock and signalling business to Alstom.
  • Assisted Peugeot with the merger review process in Brazil of the global merger with Fiat Chrysler Automobiles, announced in December 2019 and valued at $50bn.
  • Represented both Nike Galaxy Holding and Nike Group Holding in the merger review of the sale of the integrity of Nike Brazil’s shares to Centauro (SBF Group) for R$910m.

Machado Meyer Sendacz e Opice Advogados

The 'top-flight antitrust team' at Machado Meyer Sendacz e Opice Advogados has a 'recognised history of success in representing clients before CADE'. Maria Eugênia Novis leads the stable team, which - in addition to generating its own steady flow of cases - has strong synergies with other practices in the firm, including corporate and M&A, and also enjoys good relationships with leading international law firms. As a result, the team continues to handle a large proportion of mergers, including complex filings, before CADE, and is also regularly involved in the most high-profile antitrust investigations taking place in the country. In litigation, the firm is equipped to represent clients in challenges against CADE decisions. Managing partner Tito Amaral de Andrade and compliance, competition and public law specialist Marcos Paulo Veríssimo are also key contacts, and Érica Sumie Yamashita is a name to note at the senior associate level.

Practice head(s):

Maria Eugênia Novis


This is a top-flight antitrust team that is extremely well connected with the Brazilian agency and very practical in the advice it provides.’

Maria Novis is just fabulous – responsive, knowledgeable, and pragmatic. She can go broad and deep on any question of the law and has terrific experience across a range of industries. Tito Andrade is very strong as well. Erica Sumie Yamashita is up-and-coming.’

Complete office, full service. Great professionals and quality service.’

Guilherme Malouf and Paulo Henrique are excellent. 100% committed and dedicated.’

The office has a recognised history of success in representing clients before CADE, having worked in large, highly concentrated processes, mainly in regulated markets, which require coordination and coordination between the action of CADE and other regulatory agencies involved.’

Key clients

ADM – Archer Daniels Midland



Atlas Schindler




Sequoia Logistica



Work highlights

  • Represented Diagnósticos da América (Dasa) in the merger review of its acquisition of 100% of the capital stock of São Marcos Saúde e Medicina Diagnóstica.
  • Acted for Caledonia Saude in the merger filing of the acquisition of 55% of the capital stock of Austa Participações, a company active in the private healthcare industry.
  • Advised Caixa Seguridade on the merger filing of the establishment of a 50/50 joint venture between it and Tokio Marine Seguradora to operate the distribution, promotion, supply, sale and after-sale of home and residential insurance products.

Pereira Neto | Macedo

Highlighted for its 'deep knowledge of the matter and practical recommendations' and 'positive and collaborative spirit', Pereira Neto | Macedo strikes a balance between merger control and anti-competitive conduct investigations, and stands out in particular for its extensive track record in abuse of dominance cases before CADE. The firm has established longstanding client relationships with well-known companies across the financial services, healthcare and telecoms sectors, among others, and has also recently grown its portfolio through its representation of new clients in conduct cases. Names to note in the experienced team include Caio Mario da Silva Pereira Neto, Daniel Tinoco Douek and Ricardo Ferreira Pastore. Associate Schermann Chrystie Miranda e Silva is a key contact in Brasília.

Practice head(s):

Caio Mario da Silva Pereira Neto; Daniel Douek; Ricardo Ferreira Pastore


Technical knowledge, creativity, speed of response and assertiveness.’

Team specialised in the area, excellent service by members.’

Deep knowledge of the matter and practical recommendations, that is, theoretical and practical knowledge of a high level.’

Dr. Caio Pereira Neto and Dr. Daniel Douek are recommended.’

‘The Pereira Neto office is one of the leading specialists in public law in Brazil, with a focus on competition, administrative, and regulatory law. They have knowledge in areas of law that are not so common to other offices and have an enormous willingness to collaborate with companies to carry out their projects. Specialisation, creativity, and positive and collaborative spirit are highlights of the office.

I would like to highlight the work of the partners Caio Mario Pereira Neto, Daniel Douek.

Caio Mario Pereira Neto and Ricardo Pastore are recommended.’

Key clients


Uber Technologies

Companhia Siderúrgica Nacional (CSN)





Discovery Networks



Elo Cartões

Athena Saúde




Votorantim Cimentos


Banco BBM

CMPC Celulose




Liberty Specialty Markets

Work highlights

  • Advised Athena Saúde on the merger aspects of the acquisition of São Bernardo Saúde and São Bernardo Apart Hospital.
  • Advised Banco Bradesco on a matter related to Guiabolso, and also advised the company on the negotiations of a Cease-and-Desist Agreement.
  • Advised Cielo in the matter related to Cielo’s and Facebook’s instant payment partnership that was blocked by CADE.

Tauil & Chequer Advogados

'Top-class' firm Tauil & Chequer Advogados maintains longstanding client relationships with multinational Fortune 500 companies, which turn to the team for representation in filings of large-scale, cross-border M&A and in investigations initiated by CADE involving allegations of cartels, exchanges of information and other potential antitrust violations. In a major transaction in the gaming sector, the firm represented Microsoft in the merger notification of its $7.5bn acquisition of ZeniMax Media, owner of The Elder Scrolls, Fallout and Doom game franchises. The team also provides advice on competition compliance, and is able to assist clients in sensitive negotiations of leniency agreements. Brasília-based practice head Francisco Ribeiro Todorov receives praise from clients, as do São Paulo-based competition expert Adriana Giannini and next generation partner Lorena Nisiyama, also based in the Brasília office.

Practice head(s):

Francisco Ribeiro Todorov


Lots of expertise in antitrust issues and, on several occasions, present solutions and alternatives.’

Availability, technical quality and the ability to connect the right to business in a simple way.’

Francisco Todorov has a lot of business knowledge and manages to simply connect the right to business with agility.’

Francisco Todorov and Lorena Nisiyama are recommended.’

They are top class. I would recommend Adriana.’

Key clients











Work highlights

  • Assisted Bunge in the notification to CADE of the proposed acquisition of two soybean crushing plants from Imcopa.
  • Representing Microsoft in the merger control aspects of the multibillion-dollar acquisition of ZeniMax Media, a well-regarded publisher in the gaming industry.
  • Representing four media agencies from the Publicis Group in the preliminary investigations opened by CADE to investigate the offer of ‘Volume Bonus’ by media vehicles.

Veirano Advogados

The competition department at Veirano Advogados attracts a strong following among international companies in the life sciences, telecoms, energy and infrastructure sectors, among others, and the team has recently been instructed by a broad mix of new and longstanding clients. The firm’s combined expertise in corporate and M&A and merger control translates into a steady flow of merger review cases, often involving cross-border deals. It has also recently represented clients in a number of cartel investigations by CADE, including complex matters involving settlement and leniency agreements. Outside of complex merger and anti-competitive conduct cases, the team’s workload extends to competition compliance training and day-to-day strategic advice. Leonardo Maniglia Duarte is a name to note at the partner level; senior associates Rodrigo Alves dos Santos and Alberto Monteiro (who made partner in January 2022) are also key contacts. Since publication, Mariana Villela left the firm, in November 2021.

Practice head(s):

Leonardo Maniglia Duarte


Organisation, clarity in understanding and writing, clear and fast direction for making decisions with greater assertiveness.

Leonardo Maniglia Duarte is recommended.’

Key clients





Huhtamaki Finance



Mercado Livre


Phillip Morris

Work highlights

  • Represents Danfoss and Eaton in the antitrust clearance of the cross-border transaction by which Danfoss intends to acquire Eaton Hydraulics, from Eaton Corporation.
  • Advised Claro on the potential acquisition of part of Oi Móvel’s mobile operations in Brazil in a proposed joint bid by Claro, Telefonica and Telecom Italia (TIM).
  • Represented Brink’s in the merger notification of the acquisition of TecnoGuarda, Brink’s’ competitor in the market for armoured transportation in the Brazilian states of Goiás and Mato Grosso.

Vinicius Marques de Carvalho Advogados

Vinicius Marques de Carvalho Advogados 'has a great command of the topic, and is always available to participate in meetings with clients'. The boutique firm continues to see growth, and complements its extensive antitrust knowledge with additional coverage of compliance, data protection and technology. The firm has also increased its client portfolio, attracting new instructions from companies in the real estate, financial services and transport sectors, among others. Its conduct practice remains busy and the firm has also managed to increase its market share in merger filings. The department is led by former president of CADE Vinicius Marques de Carvalho, and benefits from the input of experienced partners Ticiana Lima and Marcela Mattiuzzo, as well as associates Anna Binotto, Frederico Haddad and Henrique Machado.

Practice head(s):

Vinicius Marques de Carvalho


The office provides a high quality service in the area of competition and antitrust, always seeking to present CADE’s most recent precedents on matters of extreme relevance for the company. The VMCA team has a great command of the topic, and is always available to participate in meetings with clients. The great advantage of the office is the availability of service and agility in the return of demands.’

I particularly highlight the work of Anna Binotto and Frederico Haddad. I emphasise the delivery of the team as a whole and the commitment employed to assist in the resolution of demands of great relevance for the company, always respecting the agreed deadlines. The delivery of opinions in general is of the highest quality.’

Highly qualified team, attentive, dedicated and with notable legal knowledge in the competition area.’

Key clients

Construtora Norberto Odebrecht






Juntos Somos Mais





CM Hospitalar

Votorantim Energia

Companhia Brasilia de Alumínio (CBA)

Quinto Andar

Work highlights

  • Successfully acted for Facebook, reverting a preliminary CADE block to the company’s agreement with Cielo to allow for Facebook’s entry in the Brazilian mobile payments market through WhatsApp Pay.
  • Advising Raízen in a complaint against ATEM for the use of a stake in the public utility electricity company to force independent energy generators in riverside communities of the Amazon rainforest to buy fuel from ATEM.
  • Advised Sony Pictures Entertainment in the submission before CADE of the global acquisition, by its subsidiary Funimation Global Group, of WarnerMedia’s anime video-on-demand service Crunchyroll.

Inglez, Werneck, Ramos, Cury e Françolin Advogados (IWRCF)

Inglez, Werneck, Ramos, Cury e Françolin Advogados (IWRCF) stands out for its 'high technical expertise' and 'mastery of the partners over different areas of law'. Under the leadership of the highly regarded Ricardo Inglez de Souza, the competition team is particularly prominent in conduct cases, regularly handling investigations concerning alleged anti-competitive practices, including high-profile cartel cases. The firm counts major automotive, toy manufacturing and aviation companies among its clients, which also seek the team's assistance with competition compliance programmes and merger filings. The department benefits from the input of specialised competition law associates Stefanie Schmitt Giglio and Daniel Elias do Nascimento, who each draw on over 10 years of experience.

Practice head(s):

Ricardo Inglez de Souza


Very creative and practical when giving opinions.’

IWRCF has been providing excellent technical quality service to us in recent years, with quality service, fast and efficient. In general, the results delivered by IWRCF have been assertive and more than adequate to the needs and requests of the business areas.’

Ricardo Inglez continues to be a mainstay in competition issues and his team demonstrates not only technical knowledge, but also a commitment to the defense of our interests, in particular I mention the lawyer Daniel Elias do Nascimento.’

The high technical expertise and mastery of the partners over different areas of law. Availability to deal with customers.’

Dr. Ricardo Inglez – distinguished by his high ability to master the issues involved in the competition rules of the market.’

Key clients

MPE – Montagens e Equipamentos

Setec Hidrobrasileira


Ford Motor Company Brasil

Mitsui Group

Nubank – Nu Pagamentos

Air BP

Continental Group

Work highlights

  • Representing Air BP in the investigation into the alleged existence of abuse of dominant position by Air BP, BR Distribuidora and Raízen, companies that make up the fuel pool located at Guarulhos Airport/SP.
  • Assisted ConectCar in an administrative inquiry; on 14 December 2020, CADE’s General Superintendence issued its final opinion, deciding for the shelving of the administrative inquiry.
  • Represented Mitsui in a cartel investigation carried out by CADE; the investigation focused on alleged bid-rigging (between 1998 and 2013) among companies in the transportation industry.

Marchini Botelho Caselta Advogados

Competition law is a core focus at boutique firm Marchini Botelho Caselta Advogados, which is also well versed in international trade and litigation. The firm continues to see growth, most recently with the hire of Martim Della Valle, who brings valuable in-house experience to the team thanks to his experience working in compliance, litigation and antitrust at AB-Inbev. The firm has broad experience in cases before CADE, recently handling a range of merger filings and administrative proceedings in the context of anti-competitive investigations before the authority. The department is jointly led by Aurélio Marchini Santos and 'great partner' Ricardo Botelho, and also benefits from the input of litigation and arbitration specialist Daniel Costa Caselta. Associate Victoria Corradini is also noted.

Practice head(s):

Aurélio Marchini Santos; Ricardo Botelho


Aurelio and Victoria have exceptional interest and knowledge in our sector, and are well versed in competition issues. They always ask the right questions to get the answers we seek.’

Ricardo Botelho is very available and a great partner. He understands competition well.’

Key clients




White Martins

Amazon Web Services


CRH Brasil


Itaú Unibanco

IG4 Capital


John Deere

Samarco Mineração

Atem’s Distribuidora de Petróleo


Sherwin Williams

Work highlights

  • Representing John Deere in the antitrust filling of the acquisition of Unimil Indústria e Comércio de Peças Agrícola; due to the complexity of the transaction, CADE conducted an in-depth analysis, with two rounds of examinations.
  • Representing Atem in an administrative investigation initiated by a complaint presented by Petróleo Sabbá, a company owned by Raízen.
  • Representing German company Dachser in CADE’s administrative proceeding regarding an alleged international cartel in the market for international freight forwarding services to or from Brazil.

Trench Rossi Watanabe

Household name companies operating in various industries turn to Trench Rossi Watanabe for advice and representation in the merger review of large-scale, cross-border M&A, which the firm is well placed to handle thanks to its cooperation with Baker McKenzie and its vast competition law expertise. Other recent mandates for the team include representing clients in administrative proceedings before CADE, and providing advice on potential antitrust risks in clients' commercial policies. Practice head Paulo Casagrande has international experience, having previously worked in a well-known firm's competition department in Brussels, and also draws on his previous experience as the Secretariat of Economic Law in the Brazilian Ministry of Justice. Bruno Burini in Brasília adds his previous experience working at CADE to the team. Associates Ursula Pereira Pinto Bassoukou and Caroline Guyt França are also key members of the department.

Practice head(s):

Paulo Casagrande

Key clients





Merck Sharp Dome (MSD)





Air liquide

Wiz Soluções

Work highlights

  • Assisted Takeda in the merger review proceeding related to the acquisition of a portfolio of its products (i.e. Eparema, Xantinon, Venalot, among others) by Hypera.
  • Assisted Hitachi in the notification to Brazilian authorities of its acquisition of ABB’s world-leading power grid business, valued at $11bn.
  • Represented Air Liquide Group in its divestment of Schülke & Mayr – part of Air Liquid’s healthcare division – to Honeybucket Bidco, a vehicle controled by Swedish private equity firm EQT.

Araújo e Policastro Advogados

Araújo e Policastro AdvogadosBruno Lanna Peixoto is ‘a leading light in Brazil competition law private enforcement‘. Under his leadership, the firm has established a prominent name in the nascent area of private damages claims following a finding of a cartel by CADE. In addition to handling claims in Brazil, the team is also sought for assistance in international litigation taking place in the UK, the US and the Netherlands. Associates Carolina Pagotto Trevizo and Ludmilla Martins Da Silva focus on competition law and litigation and have developed significant expertise in private antitrust enforcement.

Practice head(s):

Bruno Lanna Peixoto


Bruno Peixoto and his team are very knowledgeable on Brazilian competition law and more particularly on private enforcement of competition law in Brazil. Advice is comprehensive and useful. The collaboration with them is a joy.’

Bruno Peixoto has his eye on the commercial interests of the client at all times. No matter how detailed the procedural elements become, Bruno ensures that every step serves the commercial goals of the client. Impressive.

Associate Ludmilla Martins da Silva knows her facts and runs a tight ship. She’s able to quickly and soundly provide the input we require on Brazilian law, and has an impressive talent for retaining the slightest details.’

Dr. Bruno Lanna Peixoto has done an exceptional job in a case involving losses due to cartel damage. He and his team demonstrate full knowledge of the subjects involved, competence and excellence in the works presented.’

Bruno Peixioto is a leading light in the Brasil competition law private enforcement bar. Bruno provides first-class legal services to top level clients in South America and assist them in their pursuits abroad as well.’

Key clients


GMW Advogados

Companhia de Tecidos Norte de Minas – Coteminas

Cobraço – Comercial Brasileira de Aço

Federação dos Hospitais do Estado de São Paulo

Sindicato da Construção Civil no Estado de Minas Gerais – Sinduscon/MG

Federação dos Hospitais do Estado do Paraná – Fehospar

Work highlights

  • Representing Concremix in a major recovery action for cartel damages.
  • Representing the Coteminas Group in a recovery action for damages filed against a global cartel. The claim was filed following a CADE ruling that imposed fines to manufactures of hydrogen peroxides.
  • Retained to formulate, file and conduct the first antitrust recovery action in Brazil – representing the Cobraço Group, the major steel rebar distributor in Brazil – against ArcelorMittal.

Lefosse Advogados

Lefosse Advogados has established an impressive competition law practice, which adopts a multi-disciplinary approach and is well versed in both merger and conduct cases, where it has recently secured a number of successes for clients. As befits the firm's strong reputation in the Brazilian market, the team is regularly sought by major national and international companies in the financial services, retail and education sectors, among many others. José Carlos Berardo and Juliana Daniel - whose promotion to partner in June 2020 illustrated the firm's ongoing commitment to this practice area - are highlighted for their 'wide technical knowledge and excellent business vision'. Marcela Junqueira Cesar Pirola, Marília Avila and Elen Lizas are names to note at the associate level.

Practice head(s):

José Carlos Berardo; Juliana Daniel


The Lefosse competition team is extremely accessible and with prompt (immediate) answers to the doubts we present. They have extensive knowledge of the competition legal environment and provide high level support. The partners are always engaged in the first person to address the issues, bringing security to customers. The communication is also clear, objective and with a lot of accountability of the recommendations, without dubious or inconclusive positions – I understand that this is one of the biggest differentials in relation to other offices.’

Jose Carlos Berardo – Technically very precise, with examples of practical application. Very good treatment with the client and full availability.’

The wide technical knowledge and excellent business vision of the partners José Carlos Berardo and Juliana Daniel bring great competitive advantage to the office.’

The partners José Carlos Berardo and Juliana Daniel have excellent business vision.’

José Carlos is one of the most complete lawyers in the market, with deep knowledge of business.’

José Carlos da Matta Berardo, Marília Avila and Marcela Pirola are recommended.’

Key clients

Gol Linhas Aéreas Inteligentes

Magazine Luiza

Itaú Unibanco

Bunge Alimentos

Cruzeiro do Sul Educacional

Elfa Medicamentos

China National Chemical Corporation (ChemChina)

Mills Solaris

BTG Pactual

Nacional Comercial Hospitalar

PayPal do Brasil Serviços de Pagamento


Work highlights

  • Advised Gol Linhas Aéreas Inteligentes on the antitrust aspects of its tentative acquisition of certain assets owned by Oceanair Linhas Aéreas, part of Avianca Brasil.
  • Representing Redecard, an affiliate of Itaú Unibanco, in a preliminary investigation into single-firm conduct.
  • Acted as counsel for Bunge Alimentos in two different divestment transactions which raised competition concerns with CADE.

Lobo de Rizzo Advogados

Lobo de Rizzo Advogados‘ combined expertise in corporate and M&A and merger control translates into a steady flow of merger review cases, which the competition law team is well equipped to handle. In a recent highlight, the department advised AMBEV, Aurora, BRF, Coca-Cola, Heineken, Mondēlez, Nestlé and PepsiCo on the antitrust aspects of their coalition to support the recovery and reopening of food and beverage businesses in Brazil; the collaboration agreement was the first authorised by CADE in a crisis scenario. The department’s behavioural expertise also sees the team regularly representing clients in cartel investigations. ‘Spectacular professionalSérgio Varella Brunastands out for his high commitment, technical ability and availability‘; he leads the team, which includes key lawyer Natalia Pinheiro da Silveira, who was promoted to partner in June 2021.

Practice head(s):

Sérgio Varella Bruna


Impeccable service quality, easy handling, super organisation and prompt service.’

Sergio Bruno: Super technical, but without losing his ability as a negotiator.’

The office provides a complete, detailed and highly specialised legal service in the different branches in which it operates.’

Sergio Varella Bruna is a spectacular professional and stands out for his high commitment, technical ability and availability. I recommend him with my eyes closed!

Key clients

Estácio Participações


Arco Educação



Mosaic Fertilizantes

Alstom Brasil e Transporte


Work highlights

  • Provided assistance to Estácio Participações, one of the main companies in the education sector, in the antitrust aspects of the acquisition of Adtalem Brasil Holdings.
  • Represented Alstom in the cartel investigation related to alleged collusion in bids for the acquisition and maintenance of trains and metros in Brazil involving more than R$4bn.
  • Provided antitrust advice to a coalition formed by eight major food and beverage companies, named ‘Movimento Nós’, which aims to support the resurgence of small food and beverage retail businesses during and post Covid-19 pandemic.

Mundie e Advogados

Mundie e Advogados is prominent in the Brazilian market for its strong specialism in regulation, and as such is a popular choice for major companies in highly regulated sectors. Its competition and regulation department is well versed in both merger and conduct cases; in the latter, it has a good track record in cartel and unilateral conduct investigations. Also of note is the firm's experience in litigation challenging administrative fines. The department is led by 'exceptional lawyer' Enrico Spini Romanielo and also includes associate Fernando Stival, who joined the firm in August 2020.

Practice head(s):

Enrico Spini Romanielo


Enrico Romanielo is an exceptional lawyer.’

I think the office understands our business and the market in which we operate. This makes our work much easier and allows for quick consultations.’

Enrico Romanielo and Eduardo Zobaran are recommended.’

Key clients


ABIPAG – Brazilian Association of Payment Institutions





Brazilian Salt Association – ABERSAL










TIM/Telecom Italia





Work highlights

  • Represented Guiabolso in an investigation of abuse of dominance against Bradesco.
  • Represents Gates in an investigation carried out by CADE against alleged exchange of sensitive information in the independent aftermarket for car parts (IAM).
  • Represented Vibra Agroindustrial in the merger review procedure related to the acquisition, by Tyson Foods, of shares in Vibra.

Souza, Mello e Torres

Souza, Mello e Torres is particularly strong in merger control, where it regularly represents buyers and sellers in complex cases before CADE. Although only founded in 2018, the firm has quickly developed an impressive track record and following among large Brazilian companies, with a particular specialism in the retail sector. Fabricio Cardim de Almeida leads the team, which is also sought by clients for representation in cartel investigations and for general antitrust law advice. Associates Mayara Lins Ogea and Lucas de Carvalho Silveira Bueno - who joined in October 2020 from an international firm - are also key contacts.

Practice head(s):

Fabricio Cardim de Almeida


Direct contact with the partner responsible for conducting matters, availability for conference calls with the shareholder abroad and quick and objective responses to doubts and concerns raised.’

Fabrício Cardim and Mayara Ogea are recommended.’

We are very satisfied with the service on competition law advice we received from SMT, in particular of its partner Fabricio Cardim. Highly knowledgeable, meticulous, provided clear feedback on Board level and responded to questions quickly/was always readily available. Level of English excellent.’

Key clients

Makro Atacadista

BBM Logística

Henry Schein

IHS Brasil Participações

Prisma Capital

Grupo Pão de Açúcar – GPA

Lone Star Funds

Capitale Energia

Dental Cremer

Racional Engenharia

DMA Distribuidora

Work highlights

  • Advised Makro Group and its controlling shareholder SHV Holdings on the competition aspect of the sale by Makro Group of 30 cash and carry stores and 14 gas stations to Carrefour Group.
  • Represented LSF10 Brazil U.S. Holdings before CADE in the antitrust filing of the acquisition of all rights, title and interest held by Natixis which represent a majority of the capital stock of Atvos Agroindustrial – em Recuperação Judicial.
  • Represented the IHS Tower Group before CADE on the acquisition, by IHS, of Cell Site Solutions.

Ana Frazão Advogados

Founded in 2019, Brasília-based boutique Ana Frazão Advogados is regularly sought for legal opinions on complex antitrust cases. In addition, the team has notable experience in representing companies and their executives in cartel investigations before CADE. Former CADE commissioner Ana Frazão stands out for her 'deep and updated view of the competition issues in the market'. Working alongside Frazão is Angelo Prata de Carvalho, whose broad practice spans compliance, corporate, technology and competition law.

Practice head(s):

Ana Frazão


Consistency of work; deepening and comprehensiveness of the work; and delivery on time.’

Ana Frazão – commitment to work, delivery with quality and standard far above average and within very satisfactory terms.’

Professor Ana Frazão has different credentials and analytical skills, being a respected academic and with a deep and updated view of the competition issues in the market. Excellent reviewer.’

Ana Frazão is a very serious and competent professional. She dominates several areas of law, which makes her service provision very complete.

Key clients

Refinaria de Petróleo de Manguinhos (Refit)

Itaú Unibanco

Banco Santander

Companhia Brasileira de Alumínio

Prisma Capital

Sindicato Nacional das Distribuidoras de Gás Liquefeito de Petróleo (Sindigás)

Banco Votorantim

Atlético Paranaense

Buser Brasil Tecnologia

Hospital Santa Lucia

Marimex Despachos Transportes e Serviços

Cascol Combustíveis para Veículos

Ceva Logistics

Saga Medição

Warie Industrial

HLB Brasil

Instituto Alana

Work highlights

  • Represented Santander before CADE in an investigation involving the five largest banks in Brazil regarding tying and exclusive dealings at the payment methods market, and in a preliminary probe regarding vertical integration in the payment methods market.
  • Provided an expert opinion before the High Court of Justice of England and Wales – Commercial Court (QBD), analysing private cartel damages lawsuits in Brazil.
  • Represented Sindigás and its president in a cartel probe before CADE regarding price fixing in the natural gas retail and supply market in Distrito Federal.

Cascione Pulino Boulos Advogados

Cascione Pulino Boulos Advogados 'offers a high level of service both in time and in quality'. 'Excellent lawyer' Denise Junqueira has quickly established a prominent antitrust practice since her arrival at the firm in 2018; under her leadership, the department continues to win new clients, which seek advice on merger clearance, investigations and general antitrust matters. Corporate and competition law partner Guilherme Bertolini is another name to note, and Maíra Isabel Saldanha Rodrigues and Caroline Tie Tanaka are key associates in the team.

Practice head(s):

Denise Junqueira


Great expertise on the part of partner Denise, who helped us understand risks within a product acquisition operation.’

Denise participated directly in all discussions and negotiations. She has always sought to understand the market in which the company is located and what would be the obstacles to putting the operation on its feet. Denise always maintained a posture of great relevance, which brought the certainty that the path is being followed in the correct way.’

Team with high technical skills and deep knowledge of the processes. The office offers a high level of service both in time and in quality. Very attentive staff and quick responses.’

Denise Junqueira – great technical knowledge and excellent ability to understand the client. Maíra Isabel Saldanha Rodrigues – great technical knowledge, clear communication, high level service. Caroline Tanaka – strong skill in the treatment of information, transforming it into data that is easy to understand and speed in response.’

I have worked with Denise Junqueira and found her to be an excellent lawyer and on top of developments in the law and in its administration.’

The firm demonstrated full mastery of the issues surrounding the topic, which was instrumental in assisting the Sercomtel team on the information that would be necessary for a lawsuit before CADE.’

Denise Junqueira, answered brilliantly and with compatible knowledge. Dra. Maíra Isabel Saldanha Rodrigues, answered very promptly and demonstrated a lot of knowledge and technical preparation.’

Their approach is very practical, in addition to having a very deep knowledge, which makes us calm about the decision to make.’

Key clients

IG4 Capital

Fundo Bordeaux

Total Eren


Sunset Group


Sofape (TECFIL)


Work highlights

  • Represented IG4 Capital in its acquisition of Zona Norte Engenharia.
  • Represented Tecfil in two investigations in the auto-parts sector.
  • Represented Sunset Group in its divestment of three companies to GPS Group.

CGM Advogados

'Constantly updated on the trends in the area', CGM Advogados stands out for its track record in cartel investigations before CADE, including investigations involving dawn raids and leniency agreements. The firm's largely international client base includes key names in the healthcare, life sciences, technology and transport sectors, among others. The 'experienced, technical and extremely objective' André Gilberto leads the firm's competition and public law practice groups. Senior associate Natali Santos is another key contact.

Practice head(s):

André Gilberto


I have been working with CGM Advogados for five years and I would like to highlight the extremely technical performance, with cutting-edge professionals and constantly updated on the trends in the area. The CGM team has low turnover, which facilitates the establishment of a lasting relationship. The professionals really know about our business and are interested in business aspects, which allows us to achieve more assertive results.’

André Gilberto – experienced, technical, extremely objective and capable of deepening, if necessary. On a daily basis, he supported us in times of crisis, having been instrumental in dealing with episodes.

Key clients

Johnson & Johnson do Brasil

Abbott Laboratórios do Brasil

Sony Corporation

APM Terminals

Dr. Ing. Porsche

Maersk Line

Grupo SADA

DHL Logistics do Brasil

Messer Group

Perfin Apollo Energia Fundo de Participações

Work highlights

  • Advising Messer in several competition law matters related to business practices, including marketing programmes involving sales exclusivity and business models regarding distributors.
  • Acting as co-counsel for APMT in an ongoing investigation by CADE of possible antitrust violations in the charge of port tariff ‘SSE’.
  • Representing FIP Apollo Energia in the submission to merger control in Brazil of the acquisition of 100% of the shares of extension of Rialma Transmissora de Energia II.

Dias Carneiro Advogados

Dias Carneiro Advogados advises national and international companies on merger control, antitrust investigations and competition compliance. Practice head Joyce Ruiz Rodrigues Alves specialises in antitrust and compliance, and is particularly active in bid-rigging investigations, where she draws on her previous experience working for the Brazilian Ministry of Justice and Court of Audit of the State of São Paulo. Associate Tayná Gasparotto Rodrigues focuses her practice on antitrust and anti-corruption, and is often involved in the department's key mandates.

Practice head(s):

Joyce Ruiz Rodrigues Alves

Key clients

Cristália Produtos Farmaceuticos

Fuji Eletric Holdings

Japan AE Power Systems Corporation

Concremat Engenharia e Tecnologia

Redex Telecomunicações

Araguaia Indústria, Comércio e Serviços

Sociedade Civil de Saneamento

Henry Schein Inc

Instituto Biochimico Indústria Farmacêutica

Servizi Italia


Full Truck Alliance


Riot Games


Tora Transportes

Marubeni Corporation


Monashees Capital


Banco Votorantim

Work highlights

  • Provides ongoing advice to Cristalia Produtos Químicos relating to compliance with antitrust law, and represents the company in a bid-rigging investigation.
  • Representing Brazilian companies Redex and Araguaia in an administrative proceeding before CADE in the context of an investigation into an alleged cartel practice.
  • Provides ongoing advice to Concremat Engenharia e Tenologia relating to compliance with antitrust law, and represents the company in a bid-rigging investigation.

Fialho Salles Advogados

Highlighted for its 'impeccable' service, Fialho Salles Advogados' competition department is split between the firm's Belo Horizonte and São Paulo offices and handles conduct cases and merger notifications. In the latter area, the team has expanded its work in merger control, including in high-value transactions, and has recently worked with a number of new clients while also maintaining its established client base. Leonardo Canabrava and Lucas Spadano are key names at the partner level; Bruno Augustin and Leonardo Callado are active associates in the team.

Practice head(s):

Leonardo Canabrava; Lucas Spadano


The service is always impeccable, the professionals of high level, competence is the word that defines the office.’

Leonardo Canabrava and Leonardo Calado serve us with great dedication.

We hired the competition and antitrust service from Fialho Salles for an operation that had to be submitted to CADE and which involved highly complex economic groups, with many businesses each. The entire process was structured in a very short time, with great dedication from the office team, which was essential for the completion of the operation.’

Leonardo Canabrava and Bruno Augustin attended us and both showed great experience and technical knowledge.’

Familiarity with the subject and the uncomplicated way in which Competition Law matters are dealt with are the firm’s great differential.’

Bruno Augustin plays a relevant role in the Office’s Competition Law front, with impeccable technical knowledge, resourcefulness, practice and objective and uncomplicated communication.

Key clients

Embaré Indústrias Alimentícias

Emccamp Urbanismo

CSUL Desenvolvimento Urbano

São Marcos – Saúde e Medicina Diagnóstica

Phosfaz Fertilizantes


Quatrelati Alimentos

Sociedade Padrão de Educação Superior Ltda (UNIFIP)

Inspira Rede de Educadores

FIP BIOTEC e Ciências da Vida – Fundo de Investimento em Participações Multiestratégia

Rio Branco Alimentos


National Confederation of Commerce of Goods, Services and Tourism (CNC)

Sindicato Varejista de Derivados de Petróleo do Estado de Minas Gerais (MINASPETRO)

Federação Nacional do Comércio de Combustíveis e de Lubrificantes (FECOMBUSTÍVEIS)

Innovative Seed Solutions Brasil Sementes Inovadoras (ISS BRAZIL)

Rede Zandoná

Geociclo Biotecnologia


SumupSolucoes De Pagamento Brasil


Construtora Quebec

Quebec Apiacás Engenharia

FIR Capital Partners

Work highlights

  • Represented Inspira in the merger control aspects of the sale of part of its shares to FIP Warehouse (investment fund linked to BTG Bank).
  • Represented CSUL Desenvolvimento Urbano in the establishment of a joint venture with Emccamp Urbanismo to explore the real estate market.
  • Representing several fuel companies in a cartel case in the city of Belo Horizonte/MG.

KLA Advogados

With an 'excellent economic view' and 'broad knowledge of law', KLA Advogados stands out for its expertise in merger control, where it maintains a busy practice in part due to the firm's established strength in M&A. Its competition law experts are also well equipped to advise on potential antitrust risks in clients' business strategies, competition compliance and training, and to assist companies and individuals in administrative proceedings before CADE. Gianni Nunes and Tiago Cortez jointly lead the team, which also includes economic law specialist and associate Marcelo Laplane.

Practice head(s):

Tiago Cortez; Gianni Nunes


Efficient, available, excellent economic view, broad knowledge of law, creative.’

The team delved into our processes in order to have an exact and detailed understanding of our business, which led us to present a very technical, complete and in-depth thesis. As it was a new discussion in Brazil, the office went beyond the trivial and helped us to build indicators and form concepts that would help the antitrust authority to better understand our defense. By far, our thesis stood out in relation to other consultants in the sector with their respective advisors.’

I would like to highlight the work of Marcelo Laplane, who was instrumental in the success of our delivery. He actually acted as a consultant, clearly pointing out our possibilities and advising us to build the path that best illustrated our positioning. Agile and assertive communication were the main points of differential. In addition, I also highlight the constant monitoring with quick contextualisation of the evolution of the process and movement of the other players.’

Marcelo Laplane and Tiago Cortez are recommended.’

Key clients

Ânima Educação

Echostar Corporation

Freudenberg Nok Componentes Brasil

Hughes do Brasil Communication Services

Dentsu Aegis Network

Companhia Brasileira de Aluminio (CBA)

Votorantim Cimentos

Cia de Cimento Itambé


Work highlights

  • Assisted Ânima Educação with the competition aspects of the acquisition process of Laureate Group for R$4.4bn.
  • Advised Dentsu Aegis Network (DAN) on the strategy, data collection and the submission to CADE of its acquisition of the remaining 30% share in PPR that was held by minor shareholders.
  • Assisted Hughes Network Systems in the merger review of the joint venture between Al Yah Satellite Communications Company and Hughes Network Systems.

L.O. Baptista Advogados

The competition department at L.O. Baptista Advogados has significant experience in merger review processes before CADE, where it represents buyers and sellers as well as interested third parties. Clients also turn to the team for representation in cartel investigations. Practice head Patricia Agra Araujo draws on over 20 years of experience, both in private practice and within CADE, and is well versed in regulatory, compliance and antitrust matters.

Practice head(s):

Patricia Agra Araujo

Key clients

Janssen-Cilag Farmacêutica

Sogefi Filtration Do Brasil

Supergasbras Energia

HTB Engenharia e Construção

Copart do Brasil Organizações de Leilões

Almaviva do Brasil Telemarketing e Informática

Stefanini Participações

EDP Grid Gestão de Redes Inteligentes de Distribuição

VTEX – Companhia Brasileira de Tecnologia para E-Commerce

Work highlights

  • Represented Copart do Brasil Organizações de Leilões, which filed a complaint before CADE against several defendants for anti-competitive practices in the Brazilian auction market.
  • Responsible for the defence of Sogefi Filtration do Brasil before CADE.
  • Represented Supergasbrás Energia as an Interested Third Party in the transaction undergoing CADE’s analysis in the merger control proceeding involving the acquisition of Liquigás Distribuidora.

Mudrovitsch Advogados

Mudrovitsch Advogados receives praise for its 'efficient, agile and personal' service. The firm has a strong practice in white-collar crime and public law, which it combines with its competition law expertise to handle complex bid-rigging investigations. Also of note is the firm's specialism in negotiating leniency agreements. 'Highly qualified and specialised' partner Victor Santos Rufino leads the practice, which is additionally equipped to advise on merger control and other conduct matters. Other key contacts include name partner Rodrigo Mudrovitsch and senior associate Victor Cavalcanti, who joined the firm in August 2020.

Practice head(s):

Victor Santos Rufino


Extremely technical team, with deep knowledge and ablility to bring relevant insights.’

Mudrovitsch Advogados is a young and modern office. The service is efficient, agile and personal. The partners are engaged in the projects.’

Victor Rufino is an excellent lawyer. Former CADE attorney, he is highly qualified and specialised. He collaborated a lot with the company, always with innovative ideas.’

Victor Rufino – complete professional.’

Key clients

Rappi Brasil intermediação de negócios

Copagaz Distribuidora de Gas

Atvos Agroindustrial Investimentos

Construtora Norberto Odebrecht

Marfrig  Alimentos

Construções e Comércio Camargo Corrêa

Bus Serviços de Agendamento

Contern Construções e Comércio

Protege Proteção e Transporte de Valores

Work highlights

  • Advises Rappi in a complaint against iFood for the practice of anti-competitive conduct.
  • Acts as monitoring trustee responsible for monitoring the implementation of the Copagaz/Liquigas merger control agreement with CADE, related to the remedies imposed by the competition authority.
  • Advises 10 Odebrecht executives in CADE’s administrative proceeding regarding anti-competitive conduct in subway and monorail construction services.

Stocche Forbes Advogados

Merger control is a key area of focus for the competition department at Stocche Forbes Advogados, which is sought by domestic and international clients for representation in sophisticated M&A transactions. The department is led by Ana Paula Paschoalini - 'one of the rising stars in the industry' - and expanded in April 2020 with the hire of associate Vitor Jardim Machado Barbosa.

Practice head(s):

Ana Paula Paschoalini


Excellent technical capacity and flexibility to find solutions.’

Ana Paula Paschoalini – She is one of the rising stars in the industry.’

Specialisation, speed of response and price.’

Key clients

Pátria Investimentos

Elfa Medicamentos

DNA Capital Consultoria

Fundo de Investimento em Participações Multiestratégia Inovabra I – Investimento no Exterior

Mubadala Development Company

Austral Resseguradora

Arezzo Indústria e Comércio


DFS Holding

Engie Brasil Energia

Work highlights

  • Represented Elfa, a medical drug distribution company from the portfolio of the private equity firm Patria Investimentos, in the filing with CADE of all its most recent M&A transactions.
  • Represented companies and private equity funds managed by DNA Capital and Inovabra in the filing with CADE of an investment made in Beep Soluções em Saúde, a start-up in the Brazilian health sector.