Berkemeyer advised Coca-Cola on landmark competition case in Paraguay
BERKEMEYER Attorneys and Counselors acted for The Coca-Cola Company and Coca-Cola FEMSA on the first authorization of economic concentration ever approved in Paraguay.
The competition case arose from the $575 million cross-border acquisition of AdeS by Coca-Cola which took place in June 1st, 2016, involving assets in seven Latin American countries including Paraguay.
One of the joint conditions for the closing was the issuance of relevant antitrust approvals and thereof, according to local regulations, the acquirer was in charge of carrying out the notification before the Paraguay Competition Commission (CONACOM).
Berkemeyer filed the notification before CONACOM and advised the buyers in all local matters related to the process, which was approved.
The revision and consequent approval of the first operation ever notified before CONACOM, represents a milestone in the establishment of competition regulations, recently enacted in Paraguay.