The Administrative Council for Economic Defense (CADE) unanimously decided, in its session on October 16, 2024, that the statute of limitations for sanctioning mergers carried out and not notified to CADE before the current Competition Act (Law 12.529/2011, in force since May 30, 2012) is five years – Case No. 08700.005458/2019-98, reported by Councilor Camila Pires Alves.
However, CADE’s understanding for mergers carried out under the current law is that there is no statute of limitations. As clarified by Councilor Gustavo Augusto in his statement, any acts subject to CADE’s approval that were not notified are considered non-existent. The major difference lies in the fact that, under the previous law, the acts had to be reported before or within fifteen days of their completion, while under the current law, CADE’s approval is a condition for the merger’s consummation.
