The Commission for the Promotion and Defense of Competition (Coprodec) of the Ministry of Economy and Finance (MEF) made official the beginning of a second stage in the analysis process regarding the purchase operation of the three refrigerators that Marfrig It has in Uruguay for de side of the company Minerva Foods. The objective is to deepen the evaluation, for which it also required “additional information from the parties and third parties.”
The Coprodec announced the passage to Stage II of concentration in the Minerva-Marfrig operation, in the process that began last November 1. With this news, the “interested third parties” will be able to “formulate the allegations that they consider to be the case, about the possible changes or impacts on the conditions of competition in the markets that they understand may be affected”, according to the official notification of the organization.
It is worth remembering that the operation consists of the acquisition by Minerva 100% of the shares of Establishments Colonia SA, Inaler SA and Prescott International SA, in addition to other assets.
At this stage, interested third parties can “formulate the allegations they consider relevant, regarding possible changes or impacts on the conditions of competition in the markets that they understand may be affected,” the agency stated.
According to the statement from the Coprodec, The legal deadline to present written considerations is until March 14, 2024, in person. Natural persons must come with a name and identification document, while legal persons will have to prove representation.
The operation aroused criticism from various sectors
The operation generated controversy from the beginning and both political leaders and businessmen in the sector spoke out against it, considering that there could be concentration, since Minerva would accumulate 45% of the Uruguayan work.
In recent days, the president of the National Meat Institute (INAC), Conrado Ferber, who, although he chose “not to make public the fears or objections,” noted: “We have technical support that is sufficient for us, but obviously there are also technical reasons to allow the merger. There are a number of pros and cons, but the cons far outweigh the pros.”
For Ferber, The acquisition “does not contribute to a market that in our country is quite clear and balanced, it is not perfect, but we understand that this would be absolutely distorting” and he stated “it is a risk in the main business of the country.”
Source: Ambito
