CADE’s Tribunal reviewed and cleared two correlated transactions —- (1) between Clickbus and J3 – (2) between Guanabara and 2A — in the online bus ticket sales market during the Extraordinary Trial Session carried out on January 26, 2022.
Both filings originated from the General Superintendence’s (SG/CADE) findings during the investigation of a report of anticompetitive conducts such as refusal to deal, exclusivity and others– see Administrative Inquiry 08700.004318/2018-11 – and were filed by the parties after an administrative proceeding for Assessing Mergers (APAC) was opened to investigate possible gun jumping.
The main transaction, between companies Clickbus and J3, had its approval conditioned to celebrating an Merger Control Agreement (ACC), which establishes several behavioral remedies to be implemented by the parties. The parties to the transaction agreed to: (i) cease exclusive dealing arrangements in the market, both contractual or otherwise, with bus transport companies or marketplaces that hire their GDS service; (iii) adopt internal measures to preserve confidentiality of competitively sensitive information between different market segments in which they are active; and (iii) implement an antitrust compliance program. These remedies will be in force for a term of 3 years, when applicable, and will be monitored by an independent trustee.
The following related procedures are still pending trial: the two aforementioned APACs regarding the possible fine for gun jumping, as well as the report of anticompetitive conducts against the parties. In this sense, the Reporting-Commissioner Sergio Ravagnani stated that the ongoing investigation by the SG/CADE remains, since the ACC does not concern the past, but rather the future, and there is independence to proceed with the investigation.
The public versions of the decisions have not yet been made available.