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Brazil: CADE rejects Uruguay chemical co’s buyout

By  |  April 22, 2013
Brazil: CADE rejects Uruguay chemical co’s buyout

Brazil’s antitrust regulator, known as CADE, has formally recommended a rejection of a proposed transaction by which a Uruguayan chemical company would acquire an entity based in Brazil. According to a press release from the authority, Uruguay’s American Chemical I. CSA has initiated a move to buy Ociteno SA Industria e Comercio, based in Brazil. As a response to CADE’s suggested rejection, the transaction will now be referred to the authority’s Tribunal. According to the press release, concerns focused on how the deal would negatively affect the competition within the sodium laureth sulfate market. The chemical is used in various cleaning and personal care products. Concerning this market, if the merger were to proceed CADE has found that the resulting company would control 60 percent of the particular market.

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