The amendments, which were published in a new law on 30 August
2016, include the introduction of mandatory premerger notification
and a two-phase merger control system, required notification for
acquisitions of minority stakes, criminal penalties for cartel
involvement, an increase in the maximum fine for anticompetitive
conduct, and per se enforcement for interlocks between
competitors under certain circumstances.
The most important amendments for parties doing business in
Chile, and those considering potential transactions in the country,
are the introduction of a mandatory premerger notification to the
National Economic Prosecutor (FNE) and a two-phase merger control
system.
In the past, premerger filings in Chile were voluntary, with
limited exceptions for specific markets. Under the new law, parties
must report a transaction to the FNE prior to its execution when
the sum of both parties' sales in Chile in the prior year is
greater than, or equal to, 1.8
