Rising Stars

Competition and antitrust in Paraguay

BKM | Berkemeyer

BKM | Berkemeyer has continued to build on its antitrust practice, led by Carla Sosa and Manuel Arias, taking on a number of new clients recently, including Banco Continental. The firm handles a wide range of matters for both national and international clients, including merger control filings, claims of anticompetitive conducts and consultations on antitrust issues. The firm has been involved in many cases that have been processed before Conacom. Along with Sosa and Arias, the team is led by figurehead Hugo Berkemeyer. At the associate level, Andres Nasser, Alvaro Rojas, Manfredo Ramirez and Leyla Apud are active members of the team.

Practice head(s):

Hugo Berkemeyer; Carla Sosa; Manuel Arias


BKM compares very favorably with the rest of the other firms. Very high level.

Experience and training are the elements that make them stand out.

BKM is singled out from its peers in Paraguay by mastering antitrust/competition legal framework in a jurisdiction where antitrust enforcement is still incipient.

Client service and availability are BKM’s main strength.

I value the transparency towards the constant client in terms of billing, quoting and control of the resources assigned to the entrusted projects.

Carla Sosa, Manuel Arias, Manfredo Ramirez, Andres Nasser have a very fine level of meticulousness in studying the assigned topics. The dedication to preparing opinions and suggestions in interdisciplinary teams in very short and urgent times is also noticeable, considering the difficulty that the need to induce knowledge of our industry (private security) can naturally generate. It is worth noting the soft skills when it comes to interacting with us and above all the frankness about the expected results. BKM is characterised by being very creative when legally it is not possible to proceed in one direction and that gives me, as a legal manager, a lot of peace of mind when it comes to resting and confiding in sensitive issues of the corporation.

Key clients


Banco Continental


Work highlights

  • Advised Raízen on the merger filing process before Conacom, following its acquisition of a 50% stake in Barcos & Rodados.
  • Advised Prosegur after the competition authority accused it of failing to comply with its obligations during a merger filing process.
  • Advised Çimsa on its merger filing process before Conacom following its acquisition of Cemex’s white cement business outside of Mexico and the US.


Ferrere has a specialised practice dedicated to antitrust law, with a team that handles complex investigations on anticompetitive conduct. The firm has extensive experience in competition law, advising clients on anticompetitive practices and on best practices in their day-to-day business. The group advises multinational, regional and local clients on the full range of practice-related matters, including merger control. The team also includes economists who specialise in antitrust law. Verónica Franco has developed and led the competition practice since 2017, when the first merger control notification was made in Paraguay. Associate Fernanda Benítez advises local and international clients on both concentration operations and the mitigation of anticompetitive practices.

Practice head(s):

Verónica Franco


Excellent quality, very superlative compared to other offices in the country.

Verónica Franco is an excellent lawyer.

Key clients

Hidrovias do Brasil


Cervepar (Anheuser Busch-Inbev)



ICG Strategic Equity Fund III-A




Grupo Vazquez


Adama Agriculture




J&F Investimentos

Work highlights

  • Advised J&F Investimentos on obtaining merger control clearance related to its acquisition of Vale’s local entity, Transbarge Navegaciones.
  • Advised Grupo Vázquez on merger control clearance related to the acquisition of local company J. Fleischman.

Vouga Abogados

The competition and antitrust team at Vouga Abogados continues to benefit from the experience and expertise of senior associate Cecilia Vera, a specialist in competition law since its enactment in Paraguay. The firm is involved in significant transactions in the Paraguayan market, including merger notifications and approval processes involving Conacom. The team is led by Rodrigo Fernández, who has experience in a range of areas related to competition law, and handles merger filings and the negotiation of conditions with, and representation of clients before the authority. Rodolfo Guillermo Vouga's significant experience includes the representation of clients in asset acquisitions. Associate Luis Torales offers advice on competition law with a focus on the telecoms and pharmaceuticals sectors.

Practice head(s):

Rodrigo Fernández


Vouga’s business language is characterised by its ability to convey complex legal issues in simple terms. The firm is always quick to adapt to new legal landscapes in our ever-changing commercial projects, always keeping in mind our ethos and the necessities of our business and our stakeholders with practical solutions, transparent billing, and quick turn-around.

Rodrigo Fernández is a stand-out from the firm and is always available, with a deep understanding of our commercial operation and an extensive knowledge of Paraguayan’s legislation and jurisprudence, which lead to practical and cost-efficient solutions. Rodrigo immerses in the necessities of our company and communicates in an easily applicable business-oriented language.

They have facilitated the relationship and raised their discrepancies, always showing themselves willing to exploit the most diverse solutions to the problems raised by the application authority.

I have dealt with representatives of the firm in the exercise of public function. As they were among the first firms to make fillings notifying concentration operations, they promoted and contributed to the interpretation of many of the provisions contained in the regulatory framework (regarding the defense of competition) and which apparently were not easily applied. Rodolfo Vouga, Rodrigo Fernández and Cecilia Vera have proven to be professionals willing to collaborate patiently and creatively with the enforcement authority, aware of the role they have to play in building an unprecedented institutional framework in our country, always facilitating good relations.

Vouga Abogados has led numerous competition cases since the beginning of Conacom, making it one of the leading firms in this matter.

Good treatment is a plus that adds to the expertise in the area.

Key clients

Paraguay Energy Operaciones y Logistica SRL (Paraguay Energy)

Paresa (Coca-Cola)

Corporación Paraguaya Distribuidora de Derivados de Petróleo S.A. (Copetrol)

British-American Tobacco

Work highlights

  • Representing Copetrol, a leading local player with nationwide presence, in investigations proceedings brought by competition authority.
  • Advised a major local subsidiary in the analysis, from the competition perspective, of a new law regulating the use of recycled plastics.
  • Advised in an unprecedented, major logistic cooperation agreement between two local subsidiaries of large multinationals.

Mersán Abogados

The competition and antitrust team at Mersán Abogados represents national, international and multinational clients. The firm offers advice on anti-competitive behaviour and practices, concentration operations and matters of regulation related to antitrust law. Diego Zavala Serrati and Tomás Mersán lead the team, with support from associate Federico Martinez.

Practice head(s):

Diego Zavala Serrati; Tomás Mersán

Key clients

Maersk Line

AMX Paraguay

Ball Corporation


Work highlights