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Global Competition Law

Mergers in Colombia are subject to a prior notification system (Article 9 of Law 1340/09).
The pre-merger notification system in section 9 has two components, the first termed the “subjective” standard and the second termed the “objective’ standard. Both must be met to trigger an obligation to notify.
The SIC has stated that any transaction affecting the Colombian markets should be reported. Hence …

Merger notification

Mergers in Colombia are subject to a prior notification system (Article 9 of Law 1340/09).

The pre-merger notification system in section 9 has two components, the first termed the “subjective” standard and the second termed the “objective’ standard. Both must be met to trigger an obligation to notify.

The SIC has stated that any transaction affecting the Colombian markets should be reported. Hence, Colombian market presence of the parties is a determining condition on whether an international transaction needs to be cleared by the Colombian authority. 

According to Resolution No 10930, the transaction may be filed by any party involved in the transaction on behalf of the others. Notification has a suspensory effect: the parties must not implement the transaction before clearance. A list of the information required can be found in Resolution No 10930. 

The ICN, in section IIB of its Recommended Practices, similarly recommends that merger notification requirements should be based on “objectively quantifiable criteria”.

  The SIC has a broad power to conduct the review. The authority can request any information from the parties that it considers necessary to conduct its analysis. Information is submitted as documents attached to the request for review or filed at a later stage of the process, either by the parties of their own motion or at the specific request of the SIC.

  Third parties (competitors and consumer associations) are also permitted to submit information to the SIC and to challenge the parties' allegations. Sector-specific regulators are also allowed by the law to issue recommendations for the SIC when the parties to the transaction are subject to the control or supervision of such industry agencies.

  Where the parties have a market share lower than 20%, they need only file a notice of the transaction. Where the market share is higher, a full review is required. The full review procedure starts by the publication of a merger notice in a national newspaper. Within 30 days of receiving the information about the transaction, the SIC can clear the transaction or engage in an in-depth analysis. The SIC has then three months to render its decision.

Global Competition Law

956. Merger notification

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Les notions juridiques connexes

956. Merger notification

Demandez un accès gratuit au contenu exclusif Livv – juristes d’entreprise

Les notions juridiques connexes

Demandez un accès gratuit
au contenu exclusif Livv – juristes d’entreprise