The Brazilian Competition Authority vetoes a transaction in the industry of concrete services based on the conservative presumption of an economic group by summing minority equity interest in companies with a small cross-sharing (Tupi / Polimix)

The author thanks Natali de Vicente Santos for researching and debating this case law with him, which contributed for this article. I. Summary of the case In this case, the discussion at CADE focused on the corporate relationship between rivals being able to raise anticompetitive effects even in the case of minority shareholding and passive relations. More specifically, the case concerned discussion about the concept of relevant influence and the hypothesis in which it would be able to raise competitive concerns. II. Description of the transaction The case refers to the acquisition by Concreto Polimix Ltda. (“Polimix”) of assets from Cimento Tupi S.A. (“Tupi”) related to the rendering of concrete services located in Rio de Janeiro and São Paulo, by means of the execution of an assets