PERU Law and Practice Contributed by: Alvaro Echeandía, Alfred Kossuth Wieland, Pilar Santillán Meza and Rodrigo Varillas Cueto, Thorne, Echeandia & Lema Abogados
establishment of joint ventures and acquisition of productive assets. Such operations must be notified to INDECOPI if the companies reach cer - tain financial thresholds. Currently, notification is mandatory if a company’s sales, gross annual income or assets amount to at least 118,000 UIT and at least two companies individually reach 18,000 UIT in the same period. These thresholds may be adjusted by INDECOPI through a regula - tion with the force of law. To require prior authorisation from INDECOPI, companies must simultaneously meet two cri - teria in the previous fiscal year: the total sum of sales, gross annual income or asset value must be equal to or exceed 118,000 UIT and at least two companies must each reach or exceed 18,000 UIT in sales, gross annual income or asset value. The value of the UIT for this year is PEN5,350. If neither or only one of such criteria is met, noti - fication is voluntary and no prior authorisation Before formalising the request for authorisation with INDECOPI, a non-binding preliminary con - sultation can be conducted for guidance on the law and requirements. The mandatory procedure for the prior control of business concentration operations in Peru includes the following. • Submission of the request – economic agents submit the application with all required back - ground information and preliminary data on the effects in relevant markets. • Preliminary evaluation by the technical secretariat – initial verification to meet legal requirements. The secretariat communicates from INDECOPI would be required. 6.2 Merger Control Procedure
its evaluation within ten business days, with possible requests for additional information and deadlines for rectification. • Evaluation by the Commission for the Defence of Free Competition. (a) First phase – determination if the opera - tion falls within the scope of the regulation and initial assessment of anti-competitive risks within up to 30 business days. (b) Second phase – detailed assessment in case of concerns, extendable up to 90 business days with a possible 30-day extension. • Issuance of the final resolution – the Commis - sion issues a reasoned resolution authorising the operation without conditions, with con - ditions to mitigate anti-competitive effects or denying them. The resolution can be appealed before the competent court. These stages constitute the formal and neces - sary procedure to obtain prior authorisation from INDECOPI for business concentration opera - The Repression of Anti-Competitive Conduct in Peru is regulated by Supreme Decree No 111- 2024-PCM, the Consolidated Text of Legislative Decree No 1034, which approves the Law on the Repression of Anti-Competitive Conduct com - prehensive framework to regulate and penal - ise anti-competitive practices such as cartels, abuses of dominant position, and horizontal and vertical collusive practices. Horizontal collusion, under Article 11, involves agreements among competitors that restrict competition through price fixing or customer allocation, with both absolute and relative pro - hibitions. tions in Peru. 6.3 Cartels
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