PERU

On March 4, the Executive Branch, through Supreme Decree N° 039-2021-PCM, approved the Regulation of the law that establishes prior control of business concentration operations. The measure foresees activities performed abroad directly or indirectly linked to economic agents and their activities. Likewise, the law authorizes the National Institute for the Defense of Competition (Indecopi) to regulate economic operations, in order to guarantee competition. The regulation will enter into force in 15 calendar days. 

The norm states that a business merger operation will be subject to prior control if the total sum of the value of sales or annual gross income or value of assets in the country of the companies involved has reached during the previous fiscal year a value equal to or greater than 118,000 UIT.  In case at least two economic agents participate in a transaction, it will be reviewed if the value of sales, gross income or book value of the assets in the country are equal to or greater than 18 thousand UIT.

During the procedure, the Court of Indecopi is empowered to request information from public entities and private sector agents. They will have a period of twenty working days for their presentation. In turn, the Court will have a period of 90 working days to issue a final resolution of the case.