Firms To Watch: Competition and antitrust

Pedro Zanotta  and senior associate Dayane Garcia Lopes Criscuolo  joined BRZ – Barbosa, Raimundo, Gontijo, Câmara e Zanotta Advogados in April 2021 and have quickly established an active antitrust practice at the firm, regularly advising companies and executives in CADE investigations.
Figueiredo e Velloso Advogados bolstered its competition practice in 2021 with the arrival of Bruno Droghetti Magalhães Santos , who brings former experience in a full-service firm as well as at CADE; his arrival was quickly followed by the hire of Daniel Mesquita  and associate Izabella de Menezes Passos Barbosa , who previously worked at CADE.
Under the leadership of Luís Nagalli  , who joined from Advocacia Del Chiaro in August 2021, Madrona Advogados‘ competition team acts for companies in a broad range of sectors, including education and healthcare, in CADE investigations and merger control.
Former CADE commissioner Polyanna Vilanova established Vilanova Advocacia in February 2021; the firm acts for domestic and international companies in a range of proceedings before the competition authority.

Competition and antitrust in Brazil

Advocacia Del Chiaro

Prominent competition boutique Advocacia Del Chiarostands out for the dynamism of its partners and for its knowledge of national, European and American practice‘. The firm has well-established strength in single firm conduct cases, though its antitrust practice extends far beyond this field. Of particular note is its work in cases at the intersection of antitrust and intellectual property, and the firm is a popular choice for start-ups and established companies in the technology and fintech sectors, as well as more traditional industries. It draws on the strong reputation and experience of founding partner José Del Chiaro; a co-founder of the Brazilian Institute of Competition, Consumption and International Trade Law (IBRAC), he has gained vast knowledge of competition investigations during his 30-year-plus career. He jointly leads the practice alongside Ademir Antonio Pereira Júnior, who is noted for his ‘deep knowledge of competition law matters’. Other key contacts include Luiz Felipe Rosa Ramos, who is particularly active working with domestic and international companies in matters connected to the digital economy, and associates Yan Villela Vieira and Julia Haddad Niemeyer.

Practice head(s):

José Del Chiaro; Ademir Antonio Pereira Júnior


‘A well-structured team from a technical point of view. It has a relevant institutional relationship. It demonstrates experience, with an impetus to delve into specific sectors of the economy, especially the regulated ones. Openness to interactions and accessibility.’

‘Luiz Felipe Rosa Ramos, José Del Chiaro and Julia Haddad Niemeyer have advanced technical knowledge, and are dedicated and very accessible.’

‘The firm is made up of a very well-prepared team, which always assists us in an agile manner. They have deep knowledge of our company’s field of activity, which helps a lot in presenting the best solution to our questions.’

‘Ademir Antonio Pereira Júnior has deep knowledge of competition law matters, and also of our business. Prompt response to our demands and extremely polite. Mariana de Azevedo Castro César: always attends us promptly and has knowledge about the competition subject, which makes us very comfortable and confident, always.’

‘Del Chiaro provides excellent services, focused on business and meeting the demands of clients.’

‘It stands out for the dynamism of its partners and for its knowledge of national, European and American practice (which are often followed by Brazilian authorities). It also stands out for its availability, quick responses and focus on problem solving. It has depth both in mergers and in matters related to allegedly anti-competitive conduct.’

‘Ademir Antonio Pereira Júnior is an exponent of Brazilian competition law despite his young age. The depth of his knowledge and the scope of the analysis are noteworthy, including considering comparative law and recent cases on sectors similar to the company’s. He is very available, assertive and quick to respond, always looking for solutions.’

‘José del Chiaro and Ademir Antonio Pereira Júnior are top lawyers in competition law.’

Key clients












Tokio Marine Kiln

Gilead Sciences




Banco Fibra

Banco Inter



Associação Neo

Algar Telecom






Oji Group




Banco Santander





Work highlights

  • Acting for Google in the Android and Local Universal investigations.
  • Acts as lead counsel for Algar and Associação Neo as interested third parties in the acquisition of Oi’s mobile assets by Claro, Tim and Telefónica.
  • Represented Syngenta in the antitrust aspects of a business alliance with Ouro Fino to license IP and market certain products.

BMA - Barbosa, Müssnich, Aragão

BMA – Barbosa, Müssnich, Aragão stands out for its ‘experience, quality, academic training of the lawyers, strategy and excellence in the services‘. The firm’s traditional strength in corporate and M&A ensures a steady flow of merger control instructions for the competition practice, with cases involving digital and media sectors being particularly prominent on its recent workload, though the standalone practice also generates a large proportion of merger work independently. It is also able to work in collaboration with other departments at the full-service firm, including compliance and data protection. The team can regularly be found assisting clients in cartel investigations, as well as unilateral conduct cases. The group is under the leadership of Barbara Rosenberg, an experienced competition law expert whose track record includes advising on the merger approval of numerous high-profile M&A deals. Also of note are Marcos Exposto, who advises companies in the financial services, healthcare and food industries, among others; Camilla Paoletti, who counts domestic and international life sciences, chemicals and consumer goods companies among her clients; José Inácio Almeida Prado Filho, whose practice also encompasses disputes involving competition issues; and Luís Bernardo Cascão, who specialises in antitrust matters in the digital sector. At the associate level, Vivian TerngLea Jenner de Faria and Bruna Anklam are also noted.

Practice head(s):

Barbara Rosenberg


‘In my opinion, BMA has the best competition law team in Brazil.’

‘The experience, quality, academic training of the lawyers, strategy and excellence in the services provided are a differential in the antitrust area.’

‘All of BMA’s antitrust lawyers are committed and give us support in matters of great relevance to our business. The firm is very well equipped in terms of technology, billing, etc. It stands out for its professionals and level of excellence.’

‘Barbara Rosenberg, José Inácio Almeida Prado Filho, Vivian Terng and Bruna Anklam are people with a very high level of knowledge of competition/antitrust law, extremely meticulous, ethical and with a great power of negotiation and strategy. Excellence in the services provided.’

Key clients

Advent International

Banco Safra

BR Distribuidora

Carrefour Group




Veolia Environnement


Total Energies

Work highlights

  • Represented in the submission to CADE of the acquisition of MGM Holdings.
  • Acted for Veolia on the merger review of its acquisition of Suez for approximately €13bn.
  • Represents Claro in the antitrust merger control filing of the joint acquisition of the mobile operations of Oi.

Grinberg Cordovil Advogados (GCA)

Competition boutique Grinberg Cordovil Advogados (GCA) has cemented its reputation in this field through its involvement in high-profile cartel and unilateral conduct cases before CADE. In such investigations, the team is sought out by Fortune 500 companies operating in myriad sectors, from life sciences to financial services, many of which have been repeat clients of the firm for 10 or more years. It is also a popular choice for major technology companies, thanks in part to its activity in antitrust cases involving internet, payment services and digital marketplace issues. The firm also has a notable track record in merger control. Its founding partners have well-established reputations in the market; Leonor Cordovil acts in antitrust, international trade and anti-corruption matters, with recent work including leniency applications, and former CADE commissioner Mauro Grinberg, who has recently represented clients in cartel investigations, as well as litigation with CADE. Beyond the name partners, the firm benefits from other talented practitioners, including Karen RubackRicardo Casanova Motta and Beatriz Cravo. The firm also expanded at the associate level with new hires during 2021.

Practice head(s):

Leonor Cordovil; Mauro Grinberg

Key clients

Google Brasil Internet

Telefónica (VIVO)

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


Tecon Suape



Mercado Bitcoin Serviços Digitais



Companhia Brasileira de Alumínio





Thermo Fisher

Simmer Construção

InVivo Group

Work highlights

  • Representing Google in an ex officio investigation 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 cartel investigations, all of which centre on relevant legal discussions (e.g., international cartels and jurisdiction, standard of proof and collaborating agreements, etc.).
  • Assisting Thermo Fisher to secure merger control clearance in Brazil for its $17.4bn global acquisition of PPD.

Mattos Filho

The competition law experts at Mattos Filho act as ‘true partners with clients in carrying out extremely strategic work‘. The team’s workload strikes a balance between merger control and conduct cases, with recent highlights including its representation of food tech company iFood in the high-profile dominance investigation concerning the client’s exclusivity contracts with restaurants. In the merger space, the department’s vast experience before CADE also extends to non-fast-track merger review cases and the negotiation of remedies. The firm’s traditional strength in dispute resolution is of particular benefit when it comes to antitrust litigation, where competition and litigation specialists work together to represent clients in appealing CADE decisions. 2021 saw the practice expanding further, first with the arrival of Eduardo Frade in August of that year from Vinicius Marques de Carvalho Advogados, and later with the hire of senior associate Venicio Filho from TozziniFreire AdvogadosRenata Fonseca Zuccolo Giannella is ‘very hands on and proactive‘; Lauro Celidonio Gomes dos Reis Neto is noted for his longstanding expertise in the field of competition law; Marcio Soares is ‘very diplomatic and manages to deal assertively and carefully with authorities and other parties involved in cases‘; Amadeu Ribeiro is the name to note in New York; and Michelle Machado specialises in competition, corporate investigations and digital markets. Associate Paula Camara Baptista De Oliveira is also noted.


‘The team is very well balanced between partners with experience, partners with good case management abilities and good associates that deliver the work on time in a bilingual manner.’

‘Lauro Celidonio Gomes dos Reis Neto has many years of experience, and when interacting with other law firms (merger deals) his opinion is respected.’

Renata Fonseca Zuccolo Giannella is very hands on and proactive and has a very good sense of empathy which helps her to solve things before they happen. Paula Camara Baptista de Oliveira is a hardworking associate who delivers on time.’

‘Mattos Filho delivers extremely high quality work to its clients, carried out by a team that understands its clients’ needs in a unique way. The quality of work is certainly differentiated, and they are true partners with clients in carrying out extremely strategic work.’

‘Marcio Dias Soares is always extremely responsive. He is very diplomatic and manages to deal assertively and carefully with authorities and other parties involved in cases. Lauro Celidonio Gomes dos Reis Neto contributes with his seniority to guide clients in the best strategy to be followed and his experience brings a lot of tranquility to clients.’

‘I’d highlight Renata Fonseca Zuccolo Giannella.’

‘Excellent service.’

Key clients







Advent International





Sumitomo Electric Industries

United Parcel Service

Jacobs Douwe Egberts Brazil





Globo Comunicações

NTN Corporation


Companhia Brasileira de Alumínio

Raia Drogasil


Schneider Electric

International Paper



Work highlights

  • Advised BASF, Dow Agrosciences, Du Pont, Monsanto and Syngenta Seeds on the creation of an innovative capture value system solution for the soybean industry in Brazil.
  • Advising Advent International on the competition aspects of its divestment of Grupo BIG business to Carrefour for a consideration of R$7bn.
  • Representing iFood in the dominance investigation against it for alleged foreclosure in the market for food delivery in Brazil by means of exclusive partnerships with restaurants.

Pinheiro Neto Advogados

Noted for its ‘personalised and agile service‘, Pinheiro Neto Advogados has a well-established reputation in Brazil, and its competition department remains at the forefront of the market. With comprehensive coverage in this field, the team is a popular choice for major domestic and international companies in merger reviews and investigations before CADE. The firm also stands out for its ability to represent clients in judicial litigation, still a relatively nascent area in Brazil; the antitrust group’s origins in the litigation department make it particularly well placed for these cases. Also of note is the firm’s highly regarded M&A department, which ensures a regular flow of merger filings, including in multi-jurisdictional deals. Cristianne Zarzur is a well-known competition expert in the market; her expertise covers merger control, anti-competitive practices and compliance. Antitrust and international trade specialist Renê Medrado, competition and compliance expert José Alexandre Buaiz Neto, and Leonardo Rocha e Silva in Brasília are also key senior figures in the team. Daniel Costa Rebello and associate Alessandro Pezzolo Giacaglia are additional names to note. In a rare move, the firm hired former CADE official Amanda Athayde in July 2022.


‘Fully personalised and agile service. In addition, the professionals are highly competent and experienced in the subjects.’

‘Renê Medrado is always responsive and helpful.’

‘Daniel Costa Rebello – always very helpful, very assertive and knowledgeable. In addition, he shares with us all the updates and important news in the competition area.’

‘José Alexandre Buaiz Neto  – Excellent professional, very experienced and able to deal with stressful issues for companies.’

Key clients

Prosegur Group



American Express

NotreDame Intermédica (Bain Capital)

Arcos Dourados/McDonald’s Corporation

Becton Dickinson & Company

Credit Suisse


JP Morgan Chase

American Tower Corporation


Robert Bosch

Evonik Brasil

Compagnie de Saint-Gobain






Work highlights

  • Acted as deal counsel of the R$110bn merger between Hapvida and Intermédica, including providing advice and assistance on the merger control aspects.
  • Acting for Credit Suisse since the beginning of the CADE administrative proceeding into an international cartel in the foreign exchange market and other related litigation, including a public civil action.
  • Assisting TIM in obtaining antitrust clearance in Brazil regarding the R$16.5bn acquisition of the mobile business owned by the Oi Group, together with Telefônica Brasil and Claro.

TozziniFreire Advogados

TozziniFreire Advogadosremains one of the great references in Brazil when it comes to high-end corporate law firms‘. In competition and antitrust, the firm has established an impressive track record in the negotiation of leniency agreements with CADE, an area in which it maintains a large market share. The practice can also be seen representing companies in cartel and unilateral conduct investigations, and merger filings. Other distinguishing features include the team’s experience at CADE, with several of its lawyers having previously worked at the authority. Beyond the core competition group, the firm is also able to deploy cross-practice teams to cover the interconnected antitrust, compliance and white-collar criminal law aspects of complex cases. Tatiana Lins Cruz and Patricia Bandouk Carvalho are highlighted for their ability ‘to engage and dialogue with relevant authorities in this area at a high level‘. The well-regarded Marcelo Calliari leads the ‘highly qualified‘ team, which also includes Vivian Fraga, who is also a member of the firm’s Asia desk and as such acts for a number of Chinese, Korean and Japanese clients; Guilherme Ribas; and Marcel Medon Santos.

Practice head(s):

Marcelo Calliari


‘Availability. Speed. Good technical knowledge. Business knowledge.’

‘Excellent, practical and clear advice, understanding of other jurisdictions’ practice to be able to explain the difference with CADE, first-class knowledge of CADE’s practice.’

‘Marcelo Calliari is first class!’

‘I’d highlight Marcel Medon Santos.’

‘All lawyers have excellent preparation and are highly specialised in antitrust, always leading the best practices and ahead of the most current discussions at CADE.’

‘Marcelo Calliari, Patricia Bandouk Carvalho and Tatiana Lins Cruz stand out.’

‘Tozzini Freire remains one of the great references in Brazil when it comes to high-end corporate law firms. The name of the firm, the unblemished reputation and the high ethical level play a role in the choice of this firm. It is even needless to say that the level of quality of services is high, and the attention and care for the client is a highlight.’

‘In competition law, Tozzini Freire has a highly qualified team to assist multinational companies in very sensitive matters. In this sense, I must highlight the work of Tatiana Lins Cruz and Patricia Bandouk Carvalho, who have dedicated a lot of attention and high-level work to defending our company’s interests. Furthermore, I must highlight the ability of these professionals to engage and dialogue with relevant authorities in this area, at a high level.’

Key clients





Louis Dreyfuss Company







Work highlights

  • Acted for Gettinge in a cartel investigation that originated from a leniency agreement launched by CADE in March 2021 to investigate possible anticompetitive practices involving HR departments of healthcare companies.
  • Advised AstraZeneca on competition law matters with respect to its acquisition of sole control of Alexion Pharmaceuticals.
  • Advised Varian Medical Systems on the competition law aspects with respect to its acquisition by Siemens Healthineers.

Caminati Bueno Advogados

Caminati Bueno Advogadoshas an incredible technical capacity and great knowledge of legal matters, in addition to being able to see cases in a broad way and find global solutions to clients’ problems‘. A specialised competition boutique, the firm has quickly established a strong reputation in the market, thanks in part to the notable experience of name partners Eduardo Caminati Anders and Marcio Bueno. Both are former presidents and directors of IBRAC, with Caminati Anders also a former president of the Commission on Competition of the ICC Brazil and Bueno previously a non-government advisor for the ICN – International Competition Network. The firm has been able to gain a significant market share for merger filings before CADE, and is also a popular choice for companies in complex investigations involving cartels and other anti-competitive conduct. Guilherme Misale, a partner since 2020, is ‘very experienced and very effective in managing the clients’ demands‘. Senior associate Maria Wagner joined from KLA Advogados in March 2021. Luiz Fernando Coimbra and associate Luiza Avelar are also noted.

Practice head(s):

Eduardo Caminati Anders; Marcio Bueno


‘Caminati Bueno Advogados stands out for its quality due to the competence and experience of its partners and also for the care in client service, availability to answer questions and efficiency in the delivery of the service. The firm is always up-to-date with topics in the competition area and this generates a lot of efficiency when discussing these topics and handling the matter in the best way.’

‘Marcio Bueno is a lawyer with a lot of knowledge and experience, he is always very available and finds adequate solutions to address clients’ questions. Guilherme Misale is very experienced and very effective in managing the clients’ demands with competence.’

‘Caminati Bueno stands out due to the combination of fundamental attributes such as full technical knowledge about the work they perform in each sponsored case, with special emphasis on Competition Law, absolute commitment to the client in search of best possible results for each situation, availability to meet the demands imposed through fully trained and updated professionals in accordance with the national and international legal scenario. Finally, it is imperative to highlight the clear and unequivocal recognition, by members and other officers of CADE, for example, of the competence and unblemished conduct of the professionals who are part of Caminati Bueno Advogados. The experience of the professionals, combined with the cutting-edge technology available to its clients, undoubtedly makes Caminati e Bueno a reference in Antitrust in Brazil.’

‘Among the professionals that make up the Caminati Bueno Advogados team, we can highlight Eduardo Caminati Anders and Marcio Bueno, Luiz Fernando Coimbra, Guilherme Misale and Luiza Avelar. Certainly, the commitment to the client, the evident and incomparable technical knowledge, the seriousness, the experience in Competition Law, as well as the excellent and pioneering results achieved, distinguish these professionals from others.’

‘Marcio Bueno and Maria Wagner are great advisors, fast and efficient, with great ideas for delicate cases before CADE.’

‘Caminati Bueno is an excellent firm. Its team has an incredible technical capacity and great knowledge of legal matters, in addition to being able to see cases in a broad way and find global solutions to clients’ problems. The lawyers are extremely attentive and kind.’

‘The three partners, Eduardo Caminati Anders, Marcio Bueno and Guilherme Misale, are directly involved in the cases, participate in meetings, analyse the pieces and find solutions for the cases. In addition to being excellent from a legal technical point of view, they are creative, great problem solvers and very attentive.’

‘A very well-trained team, available to meet all the demands presented, proposing innovative solutions and being a business partner for the company in competitive demands.’

Key clients



ABB Hitachi Power Grid

Cboe III


Banco BTG Pactual


UAB Motors (Group 1 Automotive)


Rede D’Or São Luiz




Agência Africa



Omega Energia


Credit Suisse

Santos Brasil


Cirúrgica Rioclarense

Grupo Casino (Pão de Açúcar e Assaí)

EDF Energy Group

Praxair (White Martins)

WW Ocean

Citi Group (Citibank)

Andrade Gutierrez


Work highlights

  • Assisting TelComp in connection with the review of the sale of the Oi mobile business.
  • Assisting Shimadzu do Brasil in the first cartel probe launched by CADE to investigate an alleged cartel among HR departments in the healthcare sector.
  • Assisting Neoway in connection with B3’s acquisition in the market of big data and artificial intelligence.

Cescon, Barrieu, Flesch & Barreto Sociedade De Advogados

The dedicated competition department at Cescon, Barrieu, Flesch & Barreto Advogadosworks with great professionalism and competence‘ and is highlighted for its ‘deep technical knowledge and engagement with clients‘. The team stands out for its efficiency and experience in merger filings – both fast-track and complex – before CADE. A recent highlight saw the team representing Videolar-Innova in a successful challenge against CADE’s blocking decision of the acquisition of Innova. The active department has recently worked with a number of new clients in the technology, chemicals and energy sectors, in addition to its longstanding clients in a broad range of industries. Conduct investigations also feature in the firm’s workload. ‘Excellent professional‘ Joyce Midori Honda ‘combines her experience and knowledge with a pragmatic and accessible approach‘; she jointly leads the practice with Ricardo Lara Gaillard, who is also highly regarded by clients. Leonardo Mansur Lunardi Danesi and Thales Lemos are key contacts at the associate level.

Practice head(s):

Joyce Midori Honda; Ricardo Lara Gaillard


‘Team works seamlessly – I know I get an equally high standard from the associate as I do from the partner. Very well informed and pragmatic in their approach.’

‘Joyce Midori Honda combines her experience and knowledge with a pragmatic and accessible approach.  She has great intuition as to what matters to the client. I have also worked with Thales Lemos – he also made me feel confident that he was in real control of the facts.’

‘The entire competition team at Cescon Barrieu is of practically unsurpassed excellence. Agile, with deep technical knowledge and engagement with clients, we have worked together for several years and the quality only improves. From the most common strategic analysis to highly complex and unprecedented topics, the performance is surgical, with an assessment of risks and potential, always a success in active cases.’

‘I’d highlight Ricardo Lara Gaillard, Joyce Midori Honda and Leonardo Mansur LunardiDanesi.’

‘Works with great professionalism and competence. Technological resources are always used in order to facilitate contacts and interaction with the client.’

‘Joyce MidoriHonda: Excellent professional, with technical knowledge and relevant institutional network.’

‘A well-structured team from a technical point of view. Openness for interactions and easy access. Strategic vision and good relationship with other offices, not depriving themselves of working together.’

‘Joyce Midori Honda and Ricardo Lara Gaillard are extremely involved, technically capable and with good strategic vision.’

Key clients

Hypera Pharma

Valmet Oyj




ICL Brasil

Shell Brasil

HBA – Assistência Médica Hospitalar

Unimed Belo Horizonte

Canada Pension Plan Investment Board


Carta Fabril

Premium Saúde




Santa Casa da Bahia

Work highlights

  • Advised Videolar-Innova regarding the review of a blocking decision by CADE’s Tribunal to a merger filing which had been previously approved by the authority (Videolar’s control acquisition of Innova).
  • Advised Hypera Pharma on the merger filing related to the acquisition of 18 products from Takeda Pharmaceutical for $825m.
  • Advised Shell on the competition aspects of the acquisition of its lubricants business in Brazil by Raízen.

Demarest Advogados

The ‘dedicated, technical and agile team‘ at Demarest Advogados is regularly engaged by major companies in the healthcare, education and technology sectors, among others, and also maintains relationships with leading international law firms in the UK and US. The practice is well versed in behavioural investigations into cartels and other forms of anti-competitive conduct, while on the mergers side, the firm stands out for its track record in complex cases. With a sizeable team dedicated to competition and antitrust, the firm brings together the expertise of its experienced professionals. Paola Pugliese is the chair of the Competition Commission of the ICC for 2022 and 2023, and acts for clients in high-profile competition investigations and proceedings; Daniel Oliveira Andreoli stands out for his role in negotiating leniency and settlement agreements; Bruno Drago is particularly active in abuse of dominance cases; and Milena Fernandes Mundim draws on her previous experience both in CADE and an international law firm to advise on cross-border mergers, and was elected chief executive of the Competition Commission of the ICC for 2022 and 2023. Clients also benefit from the input of the department’s experienced senior associates Fabianna Morselli and Marco Antônio Fonseca.

Practice head(s):

Daniel Oliveira Andreoli; Bruno Drago; Paola Pugliese; Milena Mundim


‘Dedicated, technical and agile team.’

‘The firm in question served us very well, in a difficult process, they knew how to face the challenges (which were not few) and reach the goal.’

Key clients







Delta Airlines







Drogaria São Paulo


MS Amlin



Work highlights

  • Assisted Fleetzil as a third intervening party in the transaction submitted by Localiza Rent a Car and Unidas to CADE.
  • Assisted Bayer in the merger review connected to the sale of its subsidiary Schering do Brasil, as well as certain related assets in the contraceptives and hormones markets, to the Brazilian pharmaceutical competitor União Química.
  • Advised Hapvida Group on the merger review connected to the acquisition by Ultra Som, Hapvida’s wholly-owned subsidiary, of 100% of the equity interest in Promed Assistência Médica, Promed Brasil Assistência Médica, and other entities.

Machado Meyer Sendacz e Opice Advogados

Machado Meyer Sendacz e Opice Advogados‘ highly regarded competition department has recently been particularly active in complex domestic merger filings, and also stands out for its capabilities in cross-border merger notifications. Household name companies also seek the firm’s representation in cartel and abuse of dominance investigations before CADE, and it is also establishing a practice in antitrust litigation, challenging the decisions of the competition authority. The team has considerable experience in cases involving the healthcare and energy sectors, and also attracts instructions from companies operating in the financial services, real estate and automotive industries, among others. Experienced competition law expert Maria Eugênia Novis advises on merger cases and investigations, as well as antitrust compliance and the competition aspects of commercial practices. She leads the department, which includes managing partner Tito Amaral de Andrade; public law, competition and compliance partner Marcos Paulo Veríssimo, and several active senior associates, including Ana Bátia Glenk and Érica Sumie Yamashita.

Practice head(s):

Maria Eugênia Novis


‘Technical knowledge and rigour, market knowledge and quality of work.’

‘I’d highlight Maria Eugênia Novis and Ana Bátia Glenk.’

‘In my opinion, it is one of the best competition departments in Brazil.’

‘To the point advice; well structured; good communicators.’

‘Maria Eugênia Novis is always responsive, has a vast knowledge of antitrust law and puts the client first.’

‘I would recommend Tito Amaral de Andrade and Maria Eugênia Novis.’

Key clients

Banco C6


BTP – Brasil Terminal Portuário

Ferrari Zagatto





Jive Asset Gestão de Recursos



Magazine Luiza



Scala Data Centers

Souza Cruz (BAT)

Telefónica Espanha




Work highlights

  • Advised Localiza and Unidas on the antitrust filing for its merger; as a result of the merger, Localiza will hold the entire share capital of Unidas.
  • Advised the seller on the merger filing of the acquisition by ATI of 100% of the capital stock of Telxius Torres Latam.
  • Advised Telefônica Brasil on the competition aspects of the the acquisition by Claro, Telefônica and TIM of all mobile operations assets held by the Oi Group.

Magalhães e Dias - Advocacia

The ‘very well-prepared team‘ at Magalhães e Dias – Advocacia excels in antitrust investigations before CADE, with a notable track record in cartel and abuse of dominance cases. The boutique firm is equipped to assist in a range of matters involving economic law, both contentious and non-contentious, with its ancillary expertise in international trade, consumer and regulatory law complementing its extensive competition offering. Preventative advice covering antitrust and anti-corruption also features in its workload. The firm counts a number of multinational companies among its longstanding clients, with key names including Nestlé, Bayer and Whirlpool. The ‘very experienced‘ Gabriel Nogueira Dias leads the team, which includes antitrust and competition law expert Francisco Niclós Negrão, noted for his ‘excellent resourcefulness‘, and Raquel Cândido, a former assistant to a Supreme Federal Court judge. Camila Emi Tomimatsu and Leonardo Barbosa, who were promoted to senior associate in 2021, are also recommended.

Practice head(s):

Gabriel Nogueira Dias


‘Gabriel Nogueira Dias and Lucia Ancona Lopez de Magalhães Dias: their commitment not only to delivery and deadlines, but mainly to ethical and responsible work is the greatest highlight. This characteristic is accompanied by extreme competence and a high level of technical knowledge.’

‘The direct synergy of lawyers with the regulatory and consumer areas in an equally excellent way is essential. We also have the support of Camila Emi Tomiatsu, Leonardo Barbosa and Maria Fernanda Saab, who stand out for their rigor and competence, in addition to the technical qualification in the preparation of reports and documents, especially in emergency situations.’

‘A very well-prepared team, with extensive knowledge of the subject and with broad access to the official body that decides on competition issues.’

‘Gabriel Nogueira Dias – Very experienced, in-depth knowledge of competition defence and ability to relate to decision makers in the Government.’

‘Francisco Niclós Negrão – excellent resourcefulness in processes and depth in the most relevant topics in competition law.’

Key clients



Bayer (CropScience)

AMBEV – Cia. Brasileira de Bebidas (Anheuser-Busch/InBev)

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



Ouro Verde

Work highlights

  • Assisting Ouro Verde in the opposition to a transaction concerning the merger of two Brazilian companies in the rental cars and fleet markets.
  • Represented Ambev in a preliminary inquiry trying to establish whether the company implemented commercial practices leading to price fixing and exclusivity in the downstream retail segment.
  • Assisted Ipiranga to obtain the authorisation to use an algorithmic pricing tool for retailers (“Baixou, ganhou”), which is based on the suggestion of maximum retail prices (fuel price-cap policy).

Pereira Neto | Macedo

Well-regarded firm Pereira Neto | Macedo balances a busy workload split between conduct cases and merger filings. The competition department has established an impressive practice advising on abuse of dominance cases before CADE, with its representation of Uber as an interested third-party in the abuse of dominant position probe into iFood being a recent example of its work in this space. The firm stands out in particular for its work for companies operating in highly regulated sectors, including financial services, healthcare and telecoms. The practice is jointly led by founding partner Caio Mario Da Silva Pereira Neto, a ‘professional of the highest calibre‘, who is a member of the board of directors of IBRAC and a non-governmental advisor for the International Competition Network; Daniel Douek, whose specialisms include competition, regulation, media, technology and data protection; and Ricardo Ferreira Pastore , a ‘reference‘ in competition. Associate Schermann Chrystie Miranda Silva is a key contact in Brasília.

Practice head(s):

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


‘Highly qualified firm for in-depth analysis of innovative sectors of public and competition law. Our company requires law firms that have the creativity and flexibility to think outside the box, and Pereira Neto does this job well.’

‘I recommend the work of partners Caio Mario Pereira Neto and Daniel Douek.’

‘I have a great appreciation for the firm. The technical and business knowledge is above average and the analyses give us a lot of confidence.’

‘Caio Mario Da Silva Pereira Neto is a professional of the highest calibre. In my opinion, he is one of the most knowledgeable on the subject in the country, he has a capacity and ability to analyse complex topics that is above average, he is also very attentive and easily accessible. ‘

‘Ricardo Ferreira Pastore is also a reference on the subject. He is very careful in his analysis and his work has a lot of depth. He is very attentive and available.’

Key clients

Grupo Oi

Uber Technologies

MGM Studios





Elo Cartões

Athena Saúde

Banco BBM


Liberty Global Group

Aroeira Holding

Camp Nou Fundo de Investimento em Participações Multiestratégia


Work highlights

  • Represented MGM Holdings in the Brazilian merger review procedure of its global merger with
  • Represented Oi in the merger review process of the sale of its mobile operation assets to Claro, Tim and Telefónica, in the context of its judicial reorganisation.
  • Represents Uber do Brasil Tecnologia in a probe opened by CADE to investigate whether iFood is abusing its dominant position in the online food delivery market.

Tauil & Chequer Advogados

The competition and antitrust department at Tauil & Chequer Advogados is highlighted for its ‘great knowledge and expertise‘. The practice is based across Brasília and São Paulo, and the firm’s association with Mayer Brown gives it access to a broad international network and is of benefit in the department’s many multi-jurisdictional cases. As befits its profile, the firm counts major international companies among its clients, including Microsoft, GE and Nestlé. Francisco Todorov, a ‘very senior antitrust lawyer who provides fresh strategic information‘, leads the team from Brasília and handles a range of contentious and non-contentious matters. Other key practitioners include Adriana Giannini, who has in-depth knowledge of the antitrust aspects connected to public bids and distribution networks; Lorena Nisiyama, who specialises in conduct investigations and litigation; and associate Isabella Giorgi.

Practice head(s):

Francisco Todorov


‘Francisco Todorov – His personalised service and business knowledge makes our work much easier and gives us a very important productivity gain.’

‘Very well prepared partners, with great knowledge and expertise.’

‘I’d highlight Francisco Todorov and Adriana Giannini.’

‘The team provides fast and accurate responses to the client, is always available and focused.’

‘Francisco Todorov is a very senior antitrust lawyer who provides fresh strategic information.’

‘Personalised service and flexibility in negotiating fees.’

Key clients





Bunge Alimentos







Sony Music Entertainment



Work highlights

  • Represented Microsoft in the merger notification of the $7.5bn acquisition of ZeniMax Media, the parent company of Bethesda Softworks.
  • Acted for GE in the merger notification of the acquisition of the sole control of GE Capital Aviation Services and certain of its affiliates by AerCap Holdings, and the ensuing acquisition of a 46% stake in the post-merger entity by GE.
  • Acted for Total Pass, part of the SmartFit group, in an antitrust complaint filed against Gympass.

Vinicius Marques de Carvalho Advogados

Exceptional in drawing up strategies‘, boutique firm Vinicius Marques de Carvalho Advogados is noted for its ‘good reputation and great relationship with several players in the market‘. Although the firm itself is relatively new, having been established in 2017, it has quickly established itself among the most active boutiques in this field, drawing in particular on the knowledge and experience of former CADE president and name partner Vinicius Marques de Carvalho. The firm provides assistance in the form of representation in complex antitrust investigations, consultancy and legal opinions, with clients operating in a range of industries, including technology, construction and energy. Beyond competition law, the firm is also well versed in data protection, compliance and regulation. Ticiana Lima and Marcela Mattiuzzo, who likewise have former experience working at the competition authority, are also active partners in the team; Anna Binotto and Frederico Haddad are names to note at the associate level.

Practice head(s):

Vinicius Marques de Carvalho


‘The firm has great knowledge of competition law, always concerned with establishing the best strategy for each situation. It has a good reputation and great relationship with several players in the market.’

‘Vinicius Marques de Carvalho has recognised knowledge of competition matters and the market, having already served as president of CADE, which gives him a unique view of the institution’s dynamics. He is very available, transparent and focused on finding the best solution for clients.’

‘In addition to the impeccable technical quality and knowledge of the environment in which they work (including political), the team is exceptional in drawing up strategies and has the necessary knowledge of the business, presenting feasible solutions and according to expectations. It is an office that values diversity.’

‘Vinicius Marques de Carvalho and Marcela Mattiuzzo are impeccable in terms of technical quality and client service. I really trust their work.’

Key clients





Amil (United Health Group)










Grupo SEB

Work highlights

  • Represented Cosan Group’s Compass before CADE and the Ministry for Mining and Energy in securing the right to bid for the control of Gaspetro, Petrobras’ gas distribution branch.
  • Provides legal counsel and represents 99 in the antitrust investigation of iFood app.
  • Advised Suzano as an interested third party in the Veolia/Suez merger case.

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

The ‘highly qualified‘ team at Inglez, Werneck, Ramos, Cury e Françolin Advogados (IWRCF) receives plaudits for its ‘exceptional performance in the competition area‘. It maintains a core focus on antitrust investigations, and stands out for its representation of clients in complex cartel cases. Companies operating in the automotive, aviation, consumer and infrastructure industries seek assistance from practice head Ricardo Inglez de Souza, who is considered ‘a great reference‘ in this field. Associates Stefanie Schmitt GiglioDaniel Elias do Nascimento and Isabela Martins Soares are also noted.

Practice head(s):

Ricardo Inglez de Souza


‘Exceptional performance in the competition area. Highly qualified, with great technical expertise.’

‘Ricardo Inglez de Souza is a great reference in the antitrust area. For me, one of the best lawyers in the country in the competition area. In addition to being a great lawyer, he is a great partner for clients.’

‘IWRCF professionals are very technical and have excellent communication skills. It is noteworthy the great vision of the business, excellent risk analysis and good response time to client requests and demands.’

‘I would highlight Isabela Martins Soares and Daniel Elias do Nascimento.’

‘High expertise and technical knowledge of the partner. Recognition in the antitrust 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 of alleged abuse of dominant position by Air BP, BR Distribuidora and Raízen, companies that make up the fuel pool located at Guarulhos Airport/SP.
  • Represented MPE (and its employees) in an investigation into an alleged cartel among companies that participated in bids for onshore infrastructure projects held by Petrobrás.
  • Advising Nubank in a complaint regarding difficulties faced by the credit card issuance company before five of the biggest local banks.

Lefosse Advogados

Lefosse Advogados combines its knowledge of competition, compliance, white-collar criminal law and public law to provide ‘multi-disciplinary and thoughtful responses‘. Praised by a client as an ‘excellent team in all aspects‘, the antitrust group has continued to grow, recently expanding at the associate level with the hires of Maria Luiza de Miranda Giraldi from Mattos Filho in August 2021, and Stephanie Peneireiro  from CADE in September 2021. Highly regarded competition law experts José Carlos Berardo and Juliana Daniel jointly lead the team, which has recently seen an uptick in merger control mandates, and is also regularly engaged in conduct investigations. Marília Avila is also noted.

Practice head(s):

José Carlos Berardo; Juliana Daniel


‘All its members speak the client’s language. They understand the business in depth and seek solutions that go beyond what was expected. There isn’t a meeting or a case where I’m not completely impressed by the team’s ability. It has a team made up of amazing human beings. José Carlos Berardo manages to demonstrate that it is possible to have a team of high human, sensitive and attentive performance.’

‘The team manages to move very well between the other areas of law, being able to deliver multi-disciplinary and thoughtful responses to the client.’

‘José Carlos Berardo and Juliana Daniel are both excellent.’

‘Excellent team in all aspects. They stand out for their expertise and easy communication. Nothing disappoints.’

‘José Carlos Berardo is the star of the team, an extremely complete lawyer, capable of thinking of complex solutions, but transforming his ideas into simple and easy to understand messages. José Carlos Berardo gives up formalities and titles, which brings him closer to clients and makes him a great solver of complex problems.’

‘Juliana Daniel is a great working partner. When approaching the client and their problems, she delivers simply perfect solutions. Marilia Avila impresses with the technical quality with which she treats her clients. Stephanie Penereiro is an up-and-coming talent.’

Key clients

Gol Linhas Aéreas Inteligentes

Magazine Luiza

Itaú Unibanco

Bunge Alimentos

Telefônica Brasil

Elfa Distribuidora de Medicamentos

Syngenta Proteção de Cultivos

PayPal do Brasil Serviços de Pagamento

Marfrig Global Foods

Vibra Energia (Pretrobrás Distribuidora)


EMS (NC Group)



AES Tietê Energia

Work highlights

  • Advised Vitru on the merger review of a transaction that consists in a business combination involving 100% of the total share capital of CESUMAR.
  • Advised Gol Linhas Aéreas Inteligentes on the competition aspects of the acquisition of MAP Transportes Aéreos.
  • Advised Suez on the legal challenge related to Veolia’s proposed acquisition, including assistance on the merger review by CADE.

Marchini Botelho Caselta Advogados

Major domestic and international companies turn to Marchini Botelho Caselta Advogados for assistance in a range of competition matters, including merger reviews, investigations and general compliance advice. Antitrust is a core focus for the boutique firm, which has additional capabilities in dispute resolution, international trade, regulation and environmental law, with its expertise in litigation making it well placed to represent clients in judicial antitrust litigation. Name partners Aurélio Marchini Santos and Ricardo Botelho have considerable experience representing clients in cartel and anti-competitive conduct investigations and merger review proceedings before CADE. Martim Della Valle, who joined from a position as head of compliance, antitrust and litigation at Ambev in August 2020, is another key contact. Victoria Corradini is an active associate in the team.

Practice head(s):

Aurélio Marchini Santos; Ricardo Botelho


‘Excellent technical knowledge and excellent market knowledge.’

‘I’d highlight Aurélio Marchini Santos.’

Key clients




White Martins

Amazon Web Services


CRH Brasil


Itaú Unibanco

IG4 Capital


John Deere

Samarco Mineração

Atem’s Distribuidora de Petróleo


Sherwin Williams

Orizon Valorização de Resíduos

American Tower do Brasil – Cessão de Infraestrutura

Spotify Brasil Serviços de Música

Dexco Revestimentos Cerâmicos

REAM Participações

Work highlights

  • Representing Dexco in the antitrust filling of the acquisition of Castelatto.
  • Advising Atem on the competition law aspects of its acquisition of Refinaria de Manaus.
  • Representing Dachser in CADE’s administrative proceeding regarding an alleged international cartel formation in the market for international freight forwarding services to or from Brazil.

Trench Rossi Watanabe

Trench Rossi Watanabe is often engaged in multi-jurisdictional competition matters, with a workload that is split between merger control and conduct investigations. In a significant matter in the pharmaceuticals sector, the team acted for Takeda in the merger review proceeding related to the sale of a portfolio of the company’s products to Hypera. Other recent cases for the team have involved the engineering, technology and consumer products industries, among others. The group is led by Paulo Casagrande, with support provided by Bruno Burini in Brasília and associate Caroline Guyt França, both of whom have previous experience at CADE.

Practice head(s):

Paulo Casagrande

Key clients

Accenture do Brasil

Synnex Corporation

Ingram Micro

Stryker do Brasil

Takeda Pharmaceuticals International

Whirlpool Corporation

Serveng Civilsan – Empresas Associadas de Engenharia

Asperbras Tubos e Conexões

Confederação Nacional de Dirigentes Lojistas – CNDL

SPC Brasil

Dräger Indústria e Comércio

Work highlights

  • Advising Platinum Equity and Ingram Micro on the merger control aspects of the acquisition of sole control of Ingram Micro by Imola Acquisition Corporation, an entity controlled by Platinum Equity.
  • Advised Synnex on the competition law aspects of the merger between Tiger Parent Corporation and subsidiaries of Synnex Corporation.
  • Assisted Takeda in the merger review proceeding related to the acquisition of a portfolio of its products by Hypera.

Veirano Advogados

Veirano Advogados‘ competition department is highlighted for its ‘ability to provide pragmatic and robust guidance based on in-depth knowledge of relevant legal practice in Brazil‘. The group has broad experience in both merger control and antitrust investigations before CADE, with 2021 and 2022 seeing the firm handling a large number of merger review proceedings. In this space, it is also equipped to assist companies as third parties in challenges to merger transactions. Leonardo Maniglia Duarte, who has over 18 years of experience, leads the team from Brasília; Alberto Monteiro, who was promoted to partner in January 2022, is a name to note in São Paulo.

Practice head(s):

Leonardo Maniglia Duarte


‘The team is extremely qualified and constantly updated. They are always available to support their clients and behave very politely and bring robust arguments. They seek solutions to the problems presented and do not act simply by providing direct answers without seeking a solution.’

‘The competition and antitrust practice of Veirano Advogados stands out for its ability to provide pragmatic and robust guidance based on in-depth knowledge of relevant legal practice in Brazil, both in terms of enforcement priorities and merger assessments. Moreover, as Veirano has advised our company for many years, we clearly benefit from their understanding of the underlying business drivers and market participants.’

‘In particular I would mention Leonardo Maniglia Duarte, Pedro Salgueiro Figueiredo and Alberto Bragança. Each one of them in their level of seniority demonstrates excellence in working and interacting with clients. They demonstrate true professional dedication.’

‘The Competition Law area excels in technical quality, transparency, ethics and good results.’

‘We have been frequently working with Leonardo Maniglia Duarte and with Pedro Garcia. Both have provided our company with robust advice for many years where they have demonstrated an excellent understanding of the relevant business dynamics allowing them to provide to-the-point advice which is easy to communicate and to anchor with the relevant in-house clients. Their broad knowledge of the industry as well as their insight into the mechanics of the competent authorities in Brazil make it easy and comforting for a corporate client to safely navigate this otherwise rather challenging legal environment.’

‘In particular, I would recommend Leonardo Maniglia Duarte and Lívia Gândara.’

‘Excellent team of lawyers; efficient and extremely competent, attending very well to all Corporate matters with excellent communication with executives in Brazil and abroad.’

Key clients



Claro (América Móvil Group)

Edwards Lifesciences


Norsk-Hydro Group

Universal Music

Interpump Group



Work highlights

  • Advised Danfoss and Eaton on the cross-border transaction involving Danfoss’s acquisition of Eaton Hydraulics.
  • Advising Claro on the potential acquisition of part of Oi Móvel’s mobile operations in Brazil in a proposed joint bid by Claro, Telefónica (Vivo) and Telecom Italia (TIM).
  • Represents Edwards Lifesciences in the CADE investigation into alleged collusive practices involving the exchange of information among HR departments of health companies.

Brolio Gonçalves Advogados

A ‘firm with great expertise and experience in the antitrust area‘, Brolio Gonçalves Advogados has a solid reputation among both peers and clients. Companies operating in a broad range of industries, as well as high-level executives, seek the team’s advice across the spectrum of competition law matters. Highly regarded founding partner Priscila Brolio Gonçalves, who splits her time between São Paulo and Brasília and who draws on over 20 years of experience in economic law and compliance, acts in investigations concerning unilateral conduct and cartel behaviour, as well as domestic and cross-border merger clearance. Mariana Villela, who likewise has over 20 years of experience in this field, joined the firm from Veirano Advogados in November 2021, bringing with her considerable knowledge of merger control, CADE investigations and proceedings, and internal investigations. Associates Camila Pires da Rocha and Renata Gonsalez de Souza  provide key support to the partners.

Practice head(s):

Priscila Brolio Gonçalves; Mariana Villela


‘Highly qualified firm. Very experienced senior lawyers, with a boutique firm’s dedication to causes and clients.’

‘Priscila Brolio Gonçalves – solid academic background and experience of more than 20 years working in the area. She is an excellent lawyer, verifies the case in its global dimension, attentive to clients. Mariana Villela – solid background, nearly 30 years of experience in a full service firm. Great case strategist and team manager. Camila Pires da Rocha –  very dedicated and competent.’

‘Firm with great expertise and experience in the antitrust area. The work was performed quickly, safely and with quality.’

‘Priscila Brolio Gonçalves and Mariana Villela stand out.’

Key clients


GPS Group

Associação Brasileira de Internet – ABRANET




Boa Vista






Work highlights

  • Represented BRF in the submission to CADE for approval of acquisitions of the companies Hercosul and Mogiana.
  • Represented GPS Group in the merger filing of several acquisitions of companies from the Brazilian Groups Loghis, Global, Vivante, Allis, Comau, Avila, Rudder and Force.
  • Acted for Cheplafarm in the submission to CADE for approval of the acquisitions of various products.

Cascione Pulino Boulos Advogados

Cascione Pulino Boulos Advogados fields a ‘proactive team with excellent technical knowledge‘. Despite its relative youth, the competition department has built an active practice, which is regularly sought by companies in myriad sectors for assistance across the gamut of antitrust law matters. The team has been particularly active in merger control proceedings before CADE, including in non-fast-track cases. A recent example was its representation of Fundo Bordeaux in the acquisition of Copel Telecom, the transaction being a result of the latter’s privatisation process. Practice head Denise Junqueira is ‘an extremely experienced, assertive, detailed and extremely ethical‘ partner. In addition to her work with the firm, she also acts as director of development and inclusion for Women in Antitrust (WIA), and as counsel for IBRAC’s antitrust committee. A key associate in the team, Maíra Isabel Saldanha Rodrigues also has an active role in the WIA.

Practice head(s):

Denise Junqueira


‘The firm stands out in the current market because it preserves a very personal character in client service, that is, it generates trust due to the low turnover over the years.’

‘The quality of the services provided by the competition law team is really what stands out. Very up-to-date on the subject, they are able to give advice and resolutions in a very agile and assertive way.’

‘The competition law team is very well guided by its partner, Denise Junqueira, an extremely experienced, assertive, detailed and ethical person. Always up to date with what is happening in this area in Brazil and abroad. ‘

‘Maíra Isabel Saldanha Rodrigues has an attentive and humane look at the issues that competition law touches, being able to support in the readjustment of the conduct of difficult meetings.’

‘Denise Junqueira is a great lawyer.’

‘Proactive team with excellent technical knowledge. Denise Junqueira stands out for her resourcefulness to guide and with unique knowledge on the subject.’

‘Denise Junqueira stands out for her knowledge and presentation of the topic.’

‘Denise Junqueira is a great lawyer, very up-to-date and ready to help her clients.’

Key clients


Total Eren

Fundo Bordeaux

Fonte de Saúde FIP

Salus FIP / Casa dos Ventos



Instituto Mantenedor de Ensino Superior da Bahia

Work highlights

  • Advised Fonte de Saúde FIP on the competition aspects of its acquisitions of Alliar’s shares.
  • Advised Fundo Bordeaux in its non-fast-track acquisition of Copel Telecom for approx. R$2.5bn.
  • Advised both parties in Total Eren’s acquisition of wind power plants from Salus FIP/Casa dos Ventos.

Lobo de Rizzo Advogados

Lobo de Rizzo Advogados has an impressive track record in merger control, where it often acts for domestic and international companies in the food and beverage, consumer products, agribusiness and education sectors, among others. The team is also regularly engaged by clients to provide preventative advice and training, and has additional experience in cartel and anti-competitive behaviour probes opened by CADE. Sérgio Varella Bruna uses his 30 years of experience to lead the competition, regulatory and compliance practices at the firm; he works alongside Natalia Pinheiro Da Silveira, who was promoted to partner in 2021 and specialises in antitrust and compliance, including in relation to M&A transactions.

Practice head(s):

Sérgio Varella Bruna; Natalia Pinheiro da Silveira


‘The firm provides quality services and fast delivery, making itself available to respond in a timely manner whenever requested.’

‘We work with Natalia Pinheiro da Silveira and Sérgio Varella Bruna. Both have excellent technical knowledge and are willing to help us with a wide range of issues: specific consultations, evaluation of more complex cases and consultancy on training.’

Key clients


Louis Dreyfus Company Brasil

Arco Educação

BK Brasil Operação e Assessoria a Restaurantes



CI&T Software

Via Group

AES Tietê Energia


Work highlights

  • Provided assistance to Coca-Cola Indústrias in establishing new terms and conditions for the distribution by the Coca-Cola distribution system in Brazil of the beer products manufactured by Heineken.
  • Advised BK Brasil Operação e Assessoria a Restaurantes on the competition aspects of the potential acquisition of DP Brasil Participações Societária.
  • Provided assistance to Companhia Brasileira de Educação e Sistemas de Ensino, part of Arco Educação Group, in the merger control aspects of the acquisition of Quadrado Mágico Desenvolvimento e Licenciamento de Software.

Mudrovitsch Advogados

Brasília-based firm Mudrovitsch Advogados is a popular choice for companies seeking advice and representation in public and constitutional, white-collar criminal and antitrust law matters. In the field of antitrust and competition, it is well versed in administrative proceedings before CADE concerning unilateral conduct and cartels. The firm’s combined areas of expertise made it well positioned to represent clients in Lava Jato-related bid-rigging cases. More recently, the team has also been involved in merger reviews before the authority. Highly regarded partner Victor Santos Rufino leads the ‘very cohesive and organised team‘, which includes associate Victor Cavalcanti.

Practice head(s):

Victor Santos Rufino


‘The team is headed by Victor Santos Rufino, a professional with differentiated quality in the market. Demands are always met promptly, with great quality and resolution. In addition, they work as a very cohesive and organised team.’

‘Victor Santos Rufino is a highly distinguished professional, with excellent legal capacity and reasoning, which makes him a central piece for the team to be efficient.

‘Victor Cavalcanti supports Victor Santos Rufino with great efficiency.’

‘The technical capacity and the physical presence in Brasilia sets the firm apart.’

‘I’d highlight Victor Santos Rufino.’

Key clients

Stone Pagamentos

Rappi Brasil Intermediação de Negócios

Copagaz Distribuidora de Gas

Atvos Agroindustrial Investimentos

Construtora Norberto Odebrecht

Construções e Comércio Camargo Corrêa

Bus Serviços de Agendamento (Clickbus)

Protege Proteção e Transporte de Valores

Telefônica Brasil

BTG Pactual

Cosan Lubrificantes e Especialidades

Nipro Medical

Empiricus Research Publicações

Grupo Guanabara

Acqua Vero Agente Autônomo de Investimentos


Work highlights

  • Assisting Telefônica Brasil on its proposed acquisition of Oi’s mobile telecom assets with TIM and Claro.
  • Acted for Banco BTG Pactual in an investigation involving an alleged foreign exchange cartel through coordinated actions to influence the Ptax rate.
  • Acted for Rappi Brasil and Rappi Travel in providing information to CADE concerning the relation between travel services platforms and the car rental market.

Mundie e Advogados

Mundie e Advogados is renowned for its specialism in highly regulated sectors, including telecoms, technology and fintech, and its antitrust group is closely connected with its impressive regulatory practice. Its industry specialisms make it a popular choice for major domestic and international companies, including TIM Celular, as well as industry associations. Enrico Spini Romanielo regularly acts for clients in cartel and unilateral conduct cases, as well as merger reviews; he leads the practice and is highlighted as ‘outstanding in knowledge, strategy, tactics and communication‘. Associate Fernando Stival also receives praise.

Practice head(s):

Enrico Spini Romanielo


‘The firm is extremely committed and engaged with our company’s values. They are judicious, detailed and objective in their analysis and recommendations. They dominate legislation and market practice, which allows them to act with the essential balance required by modern law enforcement.’

‘Enrico Spini Romanielo and Fernando Stival stand out in particular for the agility and sense of urgency with which they deal with all matters addressed to them.’

‘The Mundie team gives me confidence and achieves results above expectations. They are solidly trained, up-to-date, extremely effective and absolutely available, regardless of the challenge and timing.’

‘Enrico Spini Romanielo is focused, dedicated to solving issues, and result-oriented. Outstanding in knowledge, strategy, tactics, communication, boldness, focus, resilience, discipline, diplomacy and, of course, effective delivery.’

Key clients

TIM Celular





ABIPAG – Brazilian Association of Payment Institutions

BTG Pactual

Brazilian Salt Association (abersal)








Work highlights

  • Representing TIM in the acquisition of Oi’s mobile business alongside with Claro and Telefônica.
  • Represented Guiabolso in an investigation of abuse of dominance against Bradesco, one of the major banks in Brazil.
  • Acts for Gates, a multinational corporation operating in the independent aftermarket for car parts sectors, in an investigation carried out by CADE against alleged exchange of sensitive information.

Mello Torres

Clients of Mello Torres appreciate the ‘direct contact with the partners and their direct involvement in matters‘, and the ‘dedication to strict project timelines‘. A transaction-focused firm, it is well equipped to handle merger review proceedings before CADE. Fabricio Cardim de Almeida has a good reputation and track record in high-profile merger cases. At the associate level, Mayara Lins Ogea, whose practice encompasses regulatory, antitrust and anti-corruption matters, and Lucas De Carvalho Silveira Bueno, who is also qualified in Portugal, are names to note.

Practice head(s):

Fabricio Cardim de Almeida


‘I’d highlight that the direct contact with the partners and their direct involvement in matters is a differential of the firm. Dedication to strict project timelines. Overall, the team is very responsive to the demands of multinational clients who need good communication in English and an international vision of business.’

‘I would like to highlight Fabricio Cardim de Almeida for always being at the forefront of competition matters. He is directly involved in the projects. Associates Felipe Estefam is skilled in regulatory telecoms matters, while Lucas de Carvalho Silveira Bueno is recommended for matters involving CADE.’

‘Communication and strategic vision.’

‘I’d highlight Fabricio Cardim de Almeida.’

Key clients

MSC Mediterranean Shipping Company

Vanta Education

Notre Dame Intermédica Participações

Groupe Casino

Companhia Brasileira de Distribuição (GPA)

IHS Tower Group

SHV Holdings

Makro Group

Racional Engenharia

BBM Logística

DMA Distribuidora

Capitale Energia

Work highlights

  • Representing MSC before CADE on the acquisition of control of Log-In Logística Intermodal.
  • Advised GNDI on antitrust aspects involved in the negotiations of the agreement for its merger with Hapvida Participações e Investimentos.
  • Advised Groupe Casino on the competition aspects involved in the R$5.2bn deal related to the purchase by Sendas Distribuidora of 71 Extra brand hypermarket stores from Companhia Brasileira de Distribuição (GPA).

Ana Frazão Advogados

Boutique firm Ana Frazão Advogados has a core focus on competition law, and can regularly be found providing consultancy and legal opinions for well-known companies in a range of sectors, thanks in large part to the knowledge and reputation of former CADE commissioner Ana Frazão. From its base in Brasília, the team – which includes competition, compliance, data protection and regulatory expert Angelo Prata De Carvalho – is also well placed to assist clients in litigation.

Practice head(s):

Ana Frazão


‘The firm provided consulting services in Competition Law. The work was carried out with depth and speed, a fact that qualifies the service provided as excellent.’

‘The quality of work is excellent and deadlines are great.’

‘Ana Frazão is very smart and prepared. She has a deep knowledge of competition law matters and is able to articulate her reasoning in a very deep and objective way.’

‘I would highlight Ana Frazão.’

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)

Atlético Paranaense

Buser Brasil Tecnologia

Marimex Despachos Transportes e Serviços

Cascol Combustíveis para Veículos

Saga Medição

Corr Plastik Industrial

Gran Petro Distribuidora de Combustíveis

Blau Farmacêutica

CNDL – Confederação Nacional de Dirigentes Lojistas

Adama Brasil


INFRAERO – Empresa Brasileira de Infraestrutura Aeroportuária

Work highlights

  • Provided a legal opinion on Cielo’s stance on blocking the merger between Stone Pagamentos and Linx (a business software company).
  • Represents Marimex in a complaint before CADE against the charging of the Terminal Handling Charge-2 (THC2).
  • Delivered a legal opinion concerning Brazil’s main fuel suppliers and the aviation fuel distribution market at Guarulhos International Airport in São Paulo.

Araújo e Policastro Advogados

Araújo e Policastro Advogados stands out for its niche focus on private antitrust enforcement claims, still a nascent area in Brazil. Highly regarded practice head Bruno Lanna Peixoto assists clients – which include major companies in the construction, financial services and life sciences sectors – in finding international litigation strategies to bring claims for follow-on damages after a finding of a cartel. In this field he works alongside associate Carolina Pagotto Trevizo, who also has experience in merger filings before CADE.

Practice head(s):

Bruno Lanna Peixoto


‘Bruno Lanna Peixoto makes the difference.’

‘Bruno Lanna Peixoto is a technical, focused and very intelligent professional.’

Key clients


GMW Advogados


Cobraço – Comercial Brasileira de Aço

Federação dos Hospitais do Estado de São Paulo – Fehosp

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.
  • Retained by Fehosp and Fehospar to file and conduct a collective action seeking injunctive relief and compensatory damages for cartel overcharge.
  • Conducting the first antitrust recovery action in Brazil, representing the Cobraço Group against ArcelorMittal for participating in a cartel.

CGM Advogados

The ‘extremely capable team‘ at CGM Advogados is ‘very focused on solving client problems, delivering results efficiently‘. Acting for companies in a broad range of sectors, including life sciences, technology and entertainment, the competition team has an active role on major CADE investigations, in addition to its work in merger control matters before the authority. Practice head André Gilberto has built longstanding client relationships with several major domestic and international companies; he and associate Natali Santos receive praise from clients.

Practice head(s):

André Gilberto


‘The firm has an extremely capable team, intellectually and academically, knowledgeable of changes in legislation and market trends. It has a strong performance with CADE and knowledge about the development of decisions. In addition, they are very focused on solving client problems, delivering results efficiently.’

‘André Gilberto is an available, intelligent, market-oriented lawyer focused on solving problems and challenges. He is the person I call when I have a difficult situation to resolve or need guidance on a topic, and he is always available and has good ideas to share.’

‘André Gilberto and Natali Santos have given us easy-to-understand explanations. In particular, explanations of the expected subsequent movements of CADE have been very helpful.’

Key clients

Johnson & Johnson do Brasil

Abbott Laboratórios do Brasil

Sony Corporation



Maersk Line

Grupo SADA

DHL Logistics do Brasil

Messer Group

Volkswagen Financial Services

Work highlights

  • Representing Sony Music Entertainment in the acquisition, from Globo Comunicação e Participações, of all assets and rights related to recorded music, music publishing and live music events under the “Som Livre” business.
  • Representing Johnson & Johnson in an administrative proceeding launched by CADE regarding allegations of possible anti-competitive practices against the healthcare job market.
  • Acting for Fleetzil as an intervening third party in the ongoing merger filing before CADE involving the merger between Unidas and Localiza.

Chinaglia Oliveira Advogados

Boutique firm Chinaglia Oliveira Advogados is a popular choice for companies, industry associations and executives in antitrust investigations, and the team is also notable for its capabilities in leniency negotiations. Although the firm itself is relatively new in the market, its lawyers have considerable experience, with name partner Olavo Chinaglia drawing on a 25-year career with a particular focus on competition law, both in law firms and in CADE.

Practice head(s):

Olavo Chinaglia


‘The technical knowledge of the firm’s senior partner and its knowledge of CADE’s procedures distinguish it.’

Key clients

Camil Alimentos

Humberg Agribrasil

Rádio e TV Bandeirantes

ATGás – Associação das Empresas Transportadoras de Gás por Gasoduto

Quadry Systems


Bus Serviços (ClickBus)

Philip Morris



Sada Group

Accell Solutions

Sociedade Brasileira de Anestesiologia

Work highlights

  • Representing ATGas, an interested third party, in an antitrust notice concerning the acquisition of Gaspetro by Compass.
  • Represents Sociedade Brasileira de Anestesiologia (SBA) in a lawsuit with the scope of nullifying the fine levied by CADE on SBA for allegedly organising a cartel among its associated individuals and entities.
  • Negotiated a leniency agreement on behalf of Accell with respect to a bid-rigging cartel in the Brazilian market for electricity meters.

Felsberg Advogados

Under the leadership of ‘excellent professionalPaula Salles, Felsberg Advogados has established an active antitrust practice, which has recently handled a number of merger filings before CADE. New clients from a range of sectors, spanning retail, energy and IT, among others, have sought the team’s assistance in competition law matters.

Practice head(s):

Paula Salles


‘Technical capacity, communication and flexibility.’

‘Paula Salles is an excellent professional technically, and with a company vision, understanding the needs that guide core business.’

Key clients

WPP Group

Geribá Investimentos

Pentágono – Distribuidora de Títulos e Valores Mobiliários

Ciplan Cimentos

Renova Energia

Grupo Interalli

Monster Energy Brasil Comércio de Bebidas

GoGipsy do Brasil Tecnologia e Viagens

Stemac Grupo Geradores

Savegnago Supermercados

Work highlights

  • Advised WPP Group on the merger control of its acquisition, through its Brazilian subsidiary BLAH Participações, of a 75% equity interest in DTI Sistemas.
  • Advised Desempar Participaçoes on the antitrust approval of a transaction involving the acquisition by Distribuidora Pitangueiras de Produtos Agropecuários of Desempar Participações and its subsidiaries.
  • Assisted Slavel Distribuidora de Automóveis on the antitrust filing of the sale of its assets in the city of Cascavel-PR.

Fialho Salles Advogados

Sitting within the firm’s private and economic law department, the competition law group at Fialho Salles Advogados is equally adept in merger control and anti-competitive conduct investigations before CADE. The firm stands out for its significant presence in both Belo Horizonte and São Paulo, with Leonardo Canabrava – who has a notable track record in conduct cases – in the former and Lucas Spadano a name to note in the latter. Senior associate Bruno Augustin also has an active role in the firm’s expanding merger review practice.

Practice head(s):

Leonardo Canabrava; Lucas Spadano

Key clients

ABC da Construção

Rio Branco Alimentos (Pif Paf)

Embaré Indústrias Alimentícias

São Marcos – Saúde e Medicina Diagnóstica

FIP Biotec

FIP Biotec vita

Innovative Seed Solutions Brasil Sementes Inovadoras  (ISS BRAZIL)

Emccamp Urbanismo

Inspira Rede de Educadores

Sociedade Padrão de Educação Superior (UNIFIP)

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

Phosfaz Fertilizantes


Fir Capital Partners – Gestão De Investimentos

BMPI Infra

CSUL Desenvolvimento Urbano


Construtora Quebec

Apiacás Engenharia

Hospital Vera Cruz

Work highlights

  • Advised Embaré on the notification to CADE of its merger with Bethânia.
  • Assisted Rio Branco Alimentos in the notification to CADE of the acquisition of Companhia de Alimentos Uniaves.
  • Advised Sociedade Padrão de Educação Superior on the notification to CADE of the sale of an education unit in the city of Montes Claros.

L.O. Baptista Advogados

At L.O. Baptista Advogados, antitrust law specialist Patricia Agra Araujo brings over 25 years of experience in competition, compliance and regulatory matters to act for domestic and international companies. The team, which expanded at the associate level with several new hires in 2021, assists clients in merger and acquisition notifications before CADE, as well as matters involving anti-competitive conduct.

Practice head(s):

Patricia Agra Araujo


‘Excellent technical knowledge combined with the company’s needs. Providea focused and assertive advice.’

‘I’d highlight Patricia Agra Araújo.’

Key clients

Copart do Brasil Organizações de Leilões

HTB Engenharia e Construção

Supergasbras Energia

EDP – Energias do Brasil

Almaviva do Brasil Telemarketing e Informática

Movilway Payment

Alliage Indústrias Médico Odontológica

Usina Batatais

Vallourec Soluções Tubulares do Brasil

Sogefi Filtration do Brasil

PPE Fios Esmaltados

Janssen Farmacêutica

Atmosfera Gestão e Higienização de Têxteis

Olympus Optical do Brasil

Unimetal Indústria, Comércio e Empreendimentos

Pedra Agroindustrial

Grupo Wheaton

Hospital Alemão Oswaldo Cruz

On Corp / Go Power Group

Work highlights

  • Represents Copart do Brasil Organizações de Leilões in a complaint before CADE against Associação Nacional de Leiloeiros Judiciais (ANLJ) and others for alleged anti-competitive practices in the Brazilian auction market.
  • Represented Supergasbrás Energia in the acquisition of assets from Copagaz Distribuidora de Gás derived from the sale of Liquigás Distribuidora.
  • Represented EDP Energias do Brasil on the competition aspects of different acquisitions in the energy industry.

Stocche Forbes Advogados

Noted for its ‘excellent responsiveness and attention to detail‘, Stocche Forbes Advogados has a good track record in merger filings before the competition authority. In this space, the team has experience advising on deals in a range of industries, including retail, energy and education. 2020 and 2021 saw the firm adding new associates to its antitrust department, including Luisa Marcelino Bono, who joined from Manesco, Ramires, Perez, Azevedo Marques Sociedade de Advogados. The team is led by Ana Paula Paschoalini, ‘a rising star in the sector’, who is ‘constructive in putting together the best antitrust solutions’.

Practice head(s):

Ana Paula Paschoalini


‘The team provides very artisanal work, as if it were a boutique. High technical quality and excellent client service.’

‘Ana Paula Paschoalini is a rising star in the sector. Very confident and technical in her opinions, but always showing flexibility in finding solutions.’

‘Technical and efficient team, excellent responsiveness and attention to detail.’

‘Ana Paula Paschoalini is an excellent professional, really differentiated.’

‘The work was of excellent quality.’

‘Ana Paula Paschoalini is very available and constructive in putting together the best antitrust solutions.’

Key clients

Petrobras Distribuidora (currently Vibra Energia)

Distribuidora Equador de Produtos de Petróleo (Equador Energia)

Pet Center Comércio e Participações

DNA Capital

Forbes & Manhattan Resources

Algar Soluções

Mubadala Investment Company

Petlove Cayman

Highline do Brasil II Infraestrutura de Telecomunicações

Ultrapar Participações


Smith & Nephew Comércio de Produtos Médicos

Arezzo & Co

Patria Investments

Work highlights

  • Represented Vibra Energia in the filing with CADE of a joint venture with LASA to develop a retail store business by combining the BR Mania and Local store chains.
  • Assisting Petz in the filing with CADE of the acquisition of a 100% interest in Selected Participações.
  • Assisting Equador Energia as an interested third-party in the merger review proceeding involving the acquisition of REMAN refinery from Petrobras by the Atem Group.