Brazilian oil company Petroleo Brasileiro (known as Petrobras) released new rules for companies that intend to bid for its liquefied petroleum gas (LPG) subsidiary Liquigas Distribuidora, reported Reuters.
Hoping to increase the number of companies bidding, Petrobras reduced the amount of revenue a rival can have compared to Liquigas sales, when in a consortium.
Two weeks ago, Petrobras announced that rivals with more than 10% of market share in the Brazilian LPG distribution market cannot have a stake in the consortium that is higher than 40% of Liquigas’ revenue.
But according to new rules included in the documents filed on Tuesday, rivals may not have a stake in the consortium higher than 30% of Liquigas revenue, in an attempt to lure more participants to any potential consortium.
Restrictions for rivals are aimed at keeping antitrust authorities from blocking a deal, which happened in Petrobras’ first attempt to sell Liquigas in 2017.
Full Content: Reuters
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Lawmaker Probes FTC and EU’s Role in Amazon’s Failed iRobot Acquisition
May 2, 2024 by
CPI
FTC to Approve Exxon’s $64 Billion Deal with Pioneer Resources, Excludes
May 1, 2024 by
CPI
UK Competition Watchdog Raises Alarm Over Nvidia’s ARM Takeover
May 1, 2024 by
CPI
Sen. Klobuchar Urges Regulators to Probe Collusion in Health Care Pricing
May 1, 2024 by
CPI
Multiple States Join Tennessee’s Antitrust Lawsuit Against NCAA Over NIL Rules
May 1, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI