Brazil's Administrative Council of Economic Defense
–CADE approved on 1 October 2014 changes in its internal
regulations. The aim was to provide better guidance on Brazil's
merger control review. The outcome is the result of three Public
Consultations issued last February. The changes came into effect on
7 October.
The main changes were made in Resolution No. 2/2012, which
regulates the acquisition of corporate participations and defines
transactions eligible to the fast-track procedure, as per the
following:
1. New criteria for the definition of "economic
group" when investment funds are concerned
According to the previous wording of Resolution No. 2/2012,
there was a single concept for economic group to be used for
purposes of calculating turnover thresholds and for submitting
information in the CADE filing form. As per the new wording of
Resolution No. 2/2012, from now on there will be two different
concepts: (i) one concept of economic group for purposes
