The Antitrust Review of the Americas 2014

Costa Rica

A legal reform that came into effect on 5 April 2013 has introduced the legal obligation of the parties to report certain mergers of companies to the local antitrust authorities. The legal reform, which comprises a change in the text of article 16 of the Competition and Effective Consumer Defense Act, establishes mandatory reporting to the Commission to Promote Competition of mergers before the merger takes place or within five business days of its execution. The obligation to report applies to mergers that involve medium and large companies, a classification based on specific criteria established in the regulations, and lack of compliance would result in hefty fines.

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