Perú: The new merger control law has been officially published
Peruvian Antitrust Alert
The Peruvian Congress has published Law Nº 31112 in the official gazette, establishing merger control in Peru and substituting Urgent Decree Nº 013-2019, the previous bill which had been issued by Executive Power as the first merger control law in Peru that would apply across all economic sectors.
Essentially, both the previous as well as the new merger control law are very similar. The main differences are the following:
- The law will enter into force within a maximum of 45 days after its publication.
- The notification thresholds will take into consideration not only gross sales or income, but also the value of assets of the companies involved in the transaction.
- The Peruvian antitrust agency (Instituto Nacional de Defensa de la Competencia y de la Protección de la Propiedad Intelectual – Indecopi) may act ex officio if it considers that there is reasonable criteria to conclude that the transaction may generate a dominant position or affect effective competition in the market.
- Parties may opt to notify the transaction voluntarily if the transaction does not meet the notification thresholds.
- Concentrations that involve companies from the financial system that receive deposits from the public or insurance companies, when they are in a situation that may compromise their solidity or stability (systemic risk), will only require approval from the Banking and Insurance Superintendency (Superintendencia de Banca, Seguros y Administradoras de Fondos de Pensiones -SBS).
 For more information regarding the merger control law, please refer to: