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Chile: FNE clears Fidelitas’ Bizarro takeover

 |  April 23, 2019
Chile’s National Economic Prosecutor’s Office (FNE) has approved the merger of the Bizarro Producciones group and the Fidelitas Group, controller of the Movistar Arena events hall. Following the agreement Bizarro would add its business experience conducting events and festivals in Chile.

Grupo Fidelitas operates different segments of the entertainment industry, including managing the Movistar Arena venue, as well as owning the main ticket seller for these events in the country, Punto Ticket. Bizarro, meanwhile, is dedicated to production services for massive entertainment shows and events.

The investigation, initiated in November 2018, lasted more than 30 days as established by law due to the offer of mitigation measures and commitments, whose effect would be to resolve competition risks detected by the authorities in the market for the production of musical events. The commitments, including the obligation not to transfer commercially sensitive information collected by Movistar Arena about rival producers participating in the same market, among others, will be monitored by a compliance supervisor approved by the FNE.
Full Content: El Dinamo

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