After verifying that the penalty for breach of a Performance Agreement (currently Agreement in Concentration Act) was disproportional — since breach was only partial and the penalty was repealing the transaction’s approval — CADE promoted its alteration; which was approved on 04/13. The authority received various complaints of breach of the deal entered into to approve Merger no. 53500.029599/2006-00, which were investigated and confirmed. However, considering that the measure to be imposed was excessive, CADE understood that it would be more adequate to alter the terms of the Agreement to include provision of a fine, which was subsequently imposed by the Tribunal. CADE stated that alteration of an agreement would be possible if it was requested by a party and approved by the Plenary.
2016/04/16
