4 April 2016
CADE’s Tribunal clears FedEx’s acquisition of TNT unconditionally
On 30 March 2016, CADE’s Tribunal upheld the decision of its General Superintendence to clear FedEx’s acquisition of TNT without restrictions.Following the decision by CADE’s General Superintendence, in February 2016, to unconditionally clear the FedEx/TNT transaction, rival UPS appealed to the Tribunal by questioning the General Superintendence’s assessment of the impact of the merger in the market for international shipments of small packages from Brazil. CADE’s Commissioner Cristiane Alkmin J. Schmidt confirmed the Parties’ views that competition will remain effective post-merger. The Commissioner also confirmed that there are observable and duly quantified efficiencies which demonstrate that the net effect of the transaction is, at least, non-negative.RBB advised FedEx alongside law firms Trench, Rossi e Watanabe in Brazil and Baker & McKenzie in Brussels.