Vale snaps up mining counterpart in Brazil

White & Case LLP in New York and the São Paulo offices of Azevedo Sette Advogados and Vinicius Marques de Carvalho Advogados have helped Brazilian mining company Vale buy a majority stake in counterpart Ferrous for 2.1 billion reais (US$550 million), tells Latin Lawyer.

Partner Eduardo Frade and associate Anna Binotto advised Vale on competition matters involving the operation, including the company’s representation before Cade.

Read the full article here.


Brazilian court clears GSK/Pfizer divestiture

Partner Eduardo Frade talked to Global Competition Review (GCR) about the approval, by a Brazilian federal judge, of Pfizer’s sale of assets to Aspen Pharmacare, ending a suspension caused by lack of quorum at the country’s competition watchdog. 

Back in June, CADE unconditionally cleared Aspen’s proposed acquisition of Pfizer’s bisurated magnesium assets. However, last month CADE announced that it was suspending all procedural deadlines after commissioner Paulo Burnier da Silveira’s term ended, leaving the authority with only three commissioners.

Aspen and Pfizer challenged the suspension before a federal court in Brasilia. Judge Edna Márcia Silva Medeiros Ramos of 13th Federal Court of the Federal District found that it was unreasonable to halt the tie-up because of the competition authority’s quorum issues, adding that the suspension was being lifted to prevent financial losses to the companies from delays.

Full article available here.

Marcela Mattiuzzo debates algorithmic governance and its consequences for antitrust analysis

In an article published at the Revista de Economia Contemporânea (REC), partner Marcela Mattiuzzo debates algorithmic governance and its consequences for antitrust analysis.

In the article, Marcela discusses the growing use of algorithmic systems, the movement that is focused on counteracting the possible bad results that may arise from this growing use, and the consequences of these proposals to the antitrust scenery.

Full article is available here.

PDF is available here.


Partner Vinicius Marques de Carvalho moderates panel in congress about the oil industry in Brasilia

VMCA partner Vinicius Marques de Carvalho spoke in a panel during the congress “Challenges of a New Context in the Downstream”, which took place in Brasilia on August 7, and gathered together experts in the Brazilian oil and fuel sectors.

Vinicius moderated the discussion “Tax Challenges for the sector’s transition”, which also had the presence of representatives from the Economy Ministry of Brazil.


Competition in digital markets is the focus of a seminar organized by partner Vinicius de Carvalho at USP


On August 2nd, 2019, partner Vinicius Marques de Carvalho organized a debate about competition in digital markets at the Universidade de São Paulo (USP).

In the event, reports published by The University of Chicago Stigler Center and by the United Kingdom, written by Professors Gene Kimmelman and Philip Marsden, respectively, were discussed. The debate also counted with guests from the private sector and the civil society.

The entrance was free and did not require a registration.

Partner Vinicius Marques de Carvalho talks about dispute over streaming regulation in Brazil, in an article published by O Globo

In an article published by ‘O Globo’ newspaper, partner Vinicius Marques de Carvalho discusses the current dispute at the Brazilian Telecommunications National Agency (Anatel) over the regulation of streaming services.

Vinicius highlights that, as stablished on the recently published “Economic Freedom Provisional Measure”, the regulation must stimulate and allow the economic activity in various forms, and be able to comprehend the competition positive effects.

Full article available here.

In an article published by Jota, VMCA attorneys talk about Petrobras’ Terms of Cessation of Conduct certified by Cade

Brazil’s competition authority Cade has certified two Terms of Cessation of Conduct (TCC), on June 11 and July 8, related to investigations of anticompetitive conduct by Petrobras in the markets of oil refinery and natural gas. Both TCCs are part of a single movement, based on the Federal Government desire of introducing a bigger number of private agents in the fossil fuels chain.

Due to this common goal, the documents seem, on the surface, very similar, reflecting a single competition policy for both oil and gas markets.

In VMCA’s column published by Jota, Vinicius Marques de Carvalho, Henrique Felix and Marco Micheli discuss the differences in the deals as well as the possible results for the productive chain of oil and gas.

Full article available here.

In an article published by JOTA, Vinicius Marques de Carvalho discusses the electronic payment systems’ industry transformation

In an article published by Jota, partner Vinicius Marques de Carvalho analyses the scenario for the electronic payment systems in Brazil and around the world. “In the past months, few sectors have mobilized the economic and legal news as the industry of electronic payment systems. In Brazil and elsewhere there are comprehensive and thorough transformations in this sector that challenges the existents economic and legal base and raise controversies and solutions proposals that deserve to be evaluate with attention”.

The article is the first one of a series to be published by Jota website, written by legal experts and economist about the industry of electronic payment systems.

Full article available here.

CADE doles out €125.4 million in fines for subway cartel

Partner Eduardo Frade talked with GCR about fines imposed by Cade to the companies involved in the subway cartel. The court sentenced 11 companies and 42 people to pay more than BRL 500 million.

Eduardo said this is one of the biggest and most significant cartel investigations ever tried by the authority.  According to him, it involved a major leniency agreement, search warrants, cooperation strategies, and vast evidence analysis.

Full article available here.