THE MERGER CONTROL LAW WILL BECOME EFFECTIVE ON JUNE 15, 2021
On May 30, 2021, Resolution No. 060-2021-PRE/INDECOPI was published in the Official Gazette “El Peruano”, approving the Second Section of the Regulations to the Law on the Organization and Functions of the National Institute for the Defense of Competition and Protection of Intellectual Property ” (the “ROF”), fulfilling the second milestone for the entry into force of Law No. 31112, “Law that establishes prior control of business concentration operation” (the “Law”).
According to the twelfth complementary provision of the Law, it will enter into force in 15 calendar days counted form the adequation of the ROF. Therefore, the merger control regime will be in force as of June 15, 2021. The Law will be applicable to all economic activities and the National Institute for the Defense of Competition and Protection of Intellectual Property (INDECOPI) will be the entity in charge of giving the necessary prior approval.
It should be noted that, will be subject to the Law, only those operations that -at the date of its entry into force- have not concluded with the closing acts necessary for the change of control. Likewise, the proceedings under Law No. 26876, “Anti-Monopoly and Anti-Oligopoly Law of the Electric Sector”, initiated prior to the entry into force of the Law, will continue to be governed under such law.
For further information, please contact Verónica Sattler (vsattler@estudiorodrigo.com) and/or Ítalo Carrano (icarrano@estudiorodrigo.com .
