This Monday (15), the Superintendence General of the Administrative Council for Economic Defense (Cade) in Brazil initiated a procedure to investigate an act of concentration (APAC) related to the commercial cooperation agreement (codeshare) between Azul Linhas Aéreas and GOL Linhas Aéreas, announced on May 23 of this year.
According to Cade, at the end of the investigations, the entity may decide to archive the APAC, conclude that the operation was carried out in disagreement with the Competition Defense Law (Law No. 12,529/2011), or decide to open an administrative process.
In case of conviction for consummation before the evaluation of the Act of Concentration by Cade, a pecuniary fine may be imposed, ranging from R$ 60,000 to R$ 60 million, in addition to the determination of notifying the act to Cade, reports our associated media in Brazil, Aeroin.
The APAC is an instrument used by the Brazilian antitrust authority to investigate Acts of Concentration of mandatory notification that may have been consummated before evaluation by Cade.
The opening of the process does not necessarily mean that the act must be notified or that there are competitive issues. At the end of its investigation, if deemed necessary, the Superintendence General will refer the case to the Cade Tribunal for judgment.
