Uruguay’s Competition Law Reform introduced a new premerger control regime
Title: Uruguay’s Competition Law Reform introduced a new premerger control regime
Authors: Juan Manuel Mercant, Jonathan Clovin and Renato Guerrieri
Law firm: Guyer & Regules
Uruguayan Law No. 18.159 on the Promotion and Defense of Competition has been recently amended, through the enactment of Law No. 19.833 last year (hereinafter, the “Reform”). The Reform sets forth significant changes that align Uruguayan Competition Law with international standards, and this initiative is framed within the recommendations issued by United Nations on its Uruguay report published on October, 2016, which resulted from Uruguay undergoing a “Voluntary Peer Review of Competition Law and Policy”, within the framework of the United Nations Conference on Trade and Development (“UNCTAD”). The Reform deploys some (though clearly not all) recommendations issued by UNCTAD.
Through the Reform, among other relevant amendments in Competition Law, Uruguay introduces a new and unified premerger control regime of prior authorization for certain economic concentrations.