GCR 100 - 20th Edition

LCA Consultores

14 January 2020

Global heads Bernardo Macedo, Sílvia Almeida
Home jurisdiction Brazil
Total size of firm 80
Competition economists 23
% of firm specialised 29%
Who’s Who Legal: Competition nominees 3
Group one 4
Group two 4
Group three 3
Group four 12
Lateral hires 0
Departures 0
Internal promotions 3

LCA Consultores had an impressive year that included working on a deal nominated for Merger Control Matter of the Year – Americas in the GCR awards.

This was Brazilian pulp and paper company Suzano’s acquisition of Fibria, creating the world’s largest hardwood pulp producer. The team was in charge of developing the economic arguments that were included in the notification of the deal to Brazil’s Administrative Council for Economic Defence, as well as estimating upstream and downstream market shares. The analysis included the difference in international and national pulp prices and the competitiveness of the pulp industry. The deal required notifications and thus close coordination with lawyers and economists in multiple jurisdictions. It was cleared unconditionally.

LCA also provided economic advice to The Walt Disney Company regarding the Disney/Fox merger. The team developed an economic opinion on efficiencies, interacted with CADE’s commissioners, and provided economic advice during the negotiation of remedies. Again, the process saw the team liaising with lawyers and economists from other jurisdictions.

In behavioural work, the Brazilian economics consultancy advised Google in CADE’s Shopping probe. E-Commerce Media Group, which owns the main price comparison site in Brazil, accused Google of abusing its market power. The team also provided expert and consulting advice to the Consortium of Telefónica and América Móvil – major Brazilian telecoms companies – in a case against British Telecom. BT complained to CADE that the two companies, as well as third carrier Oi, had closed the market in order to provide services to Brazilian Post Service.

LCA advised for Rumo, Brazil’s main provider of rail transportation services, in a claim by sugar company Agrovia that Rumo refused to transport less sugar than previously agreed. The team is also supporting two parties in a foreign exchange cartel. One company has settled, while the other is still under scrutiny from CADE.

The team is led by Who’s Who Legal nominees Bernardo Macedo and Sílvia Almeida. Macedo has also been a non-governmental adviser to the International Competition Network for 10 years, while Almeida is director of economic affairs for the Brazillian antitrust community association IBRAC, a position previously also held by Macedo.

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