El Salvador: Las concentraciones económicas y su relevancia en el ámbito de fusiones y adquisiciones en el País.
Published date | 20 February 2023 |
Author | Fidel Márquez |
Law Firm | Consortium Legal |
Cuando nos encontramos en proyectos de compraventa de acciones o activos, de fusiones de sociedades, o transacciones de similar naturaleza, nuestro enfoque suele estar concentrado en la negociación y preparación de la documentación necesaria para que las partes puedan concretizar su objetivo. En ocasiones, pueden -involuntariamente- omitir otros temas que de igual manera tienen importancia y que pudiesen tener consecuencias importantes para los agentes económicos involucrados.
Uno de ellos, y que siempre debe estar presente en proyectos de esta naturaleza, es el análisis previo que debemos realizar para determinar si se debe presentar una solicitud de concentración económica ante la Superintendencia de Competencia (la “Superintendencia”) previo a que la transacción surta sus efectos.
Si del resultado de dicho análisis se puede concluir que la misma no cumple con los parámetros que la Ley de Competencia (la “LC”) determina, la transacción no puede continuar y surtir plenos afectos. En caso contrario, si se concluyese que la misma sí cumple con los parámetros, será necesario presentar la antes referida solicitud según lo establecido por la LC y su reglamento.
Este es un tema que no es novedoso en El Salvador y que a lo largo de los años ha permitido que tanto la Superintendencia como los agentes económicos obligados a su cumplimiento, vayan tomando consciencia de su relevancia con el fin de que todos los agentes en un mercado puedan participar en igualdad de condiciones y con el fin de buscar el beneficio de los consumidores. Por ello, existe una labor activa por parte de la Superintendencia para revisar transacciones que impliquen combinaciones, total o parcial, de negocios y que, por su naturaleza y relevancia de conformidad a los parámetros actualmente vigentes, deban estar bajo su control y determinar si las mismas tendrían, o no, un efecto negativo en el mercado relevante.
Entonces, ¿cuáles son los parámetros que la LC establece para que una transacción quede sujeta al control de la Superintendencia?
Al respecto, el artículo 31 de la LC establece que se entiende que existe una concentración:
- Cuando agentes económicos que han sido independientes entre sí, realicen entre otros: actos, contratos, acuerdos y/o convenios, que tengan como finalidad la fusión, adquisición, consolidación, integración o combinación de sus negocios en todo o en partes.
- Cuando uno o más agentes...
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