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Colombia: The Superintendence of Industry and Commerce sets the new fees for merger control applicable in 2024

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In brief

The Superintendence of Industry and Commerce through Resolution No. 17526 of 2024 established the new fees for merger control procedures applicable during 2024. The parties must pay the applicable fee depending on the type of procedure: fast track notification, pre-assessment request phase I or pre-assessment request phase II.

These new fees will be effective as of the date of publication of the aforementioned resolution and the amount must be paid prior to the filing of the application before the SIC.

Key points

The resolution indicates that:

  1. The value of the fee for a fast track notification will be COP 3,419,250, approximately USD 900.
  2. The value of the fee for a full filing, or pre-assessment request, phase I stage will be COP 18,533,500, approximately USD 4,800.
  3. If the SIC decides to move to phase II, the fee will depend on the parties’ combined operating income or total assets:
    1. If during the immediately preceding fiscal year, the parties had operating income or total assets equal to or greater than 3 times the threshold for merger control for 2024 (i.e. COP 231,707,347,363), the value of the fee  will be COP 48,786,650, approximately USD 12,650.
    2. If during the immediately preceding fiscal year, the parties had operating income or total assets between 2 and 3 times the threshold for merger control for 2024 (i.e. between COP 154,471,564,909 and COP 231,707,347,363), the value of the fee will be COP 41,464,950, approximately USD 10,800.
    3. If during the immediately preceding fiscal year the parties had operating income or total assets between 1 and 2 times the threshold for merger control for 2024 (i.e. between COP 77,235,782,454 and COP 154,471,564,909), the value of the fee  will be COP 34,143,250, approximately USD 9,000.
  4. These fees will apply to all merger control procedures initiated after 11 April 2024.

Additional information

For more detail, the Resolution can be consulted in the following link.

Spanish version

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Author

Carolina Pardo joined Baker McKenzie in 1994 and is a Partner of the Firm since 2008. She is currently a member of the Global Steering Committee for the Firm’s TMT industry group and of the Global Steering Committee for the Firm’s Investigation, Compliance and Ethics Group. She was a member of the Global Steering Committee for the Firm’s Global Antitrust and Competition from 2016 and until 2020 and is currently a member of the Latam's Antitrust Steering Committee.
She graduated as a lawyer and a specialist in International Contracts Law from Universidad de los Andes in Bogotá. She obtained a LL.M. with emphasis in International Private Law and Competition Law from the London School of Economics and Political Science.
Over 25 years, she has advised major national and international clients on matters related to compliance with data protection, competition and consumer law rules. She has represented clients in investigations and submissions related to data protection and competition matters in Colombia and has successfully coordinated and prepared white paper proposals to national authorities on behalf of major industrial groups in Colombia.
In 2016 Global Competition Review selected her as one of the 100 most influential women in antitrust. The last two Superintendents of Industry and Commerce have selected Carolina as a Non-Governmental Advisor to the Colombian Antitrust Regulator.

Author

Angelica Navarro is a partner in Baker McKenzie's Bogota office. She served as an advisor to the superintendent of Industry and Commerce on antitrust and merger control. Prior to that, she was an adviser to the director of the National Protection Unit, where she was in charge of the formulation and execution on protection and human rights programs. Previously, she worked as an associate at a legal services firm and an in-house attorney from the Mexichem Colombia company. She was selected by Global Competition Review, along with clients and colleagues to be included in the 2017, 2018, 2019, 2020, 2021 and 2022 Who's Who Legal: Competition – Future Leaders publication as one of the most outstanding lawyers in the right of free competition under 45 years of age. Angelica was also recognized by Legal 500 in 2017, 2018, 2019, 2020 and in 2021 as a "Next Generation lawyer" in competition law.

Author

Carlos Ignacio Arboleda is a Lawyer graduated from Pontificia Universidad Javeriana in Bogota. He holds a post-graduate course in Competition Law and Free Trade from the same University and earned an LL.M. degree from the University of Chicago.
Carlos has 10 years' professional experience as external counsel to national and international companies in antitrust and competition matters.

Author

Luis Alberto Castell is a Lawyer from the Pontificia Universidad Javeriana in Bogotá, with a specialization in Competition and Free Trade Law from the same university and a Master of Laws (LLM) in International Business from Queen Mary University of London.
Luis has more than 10 years of experience. He began his professional practice in the financial sector and has been specializing in the fields of competition law and corporate compliance. He was an advisor to the Superintendent of Industry and Commerce on matters related to antitrust and mergers and was part of the specialized group for the protection of competition in public procurement processes (Bid Rigging) of said entity. He was also part of Shop IV on Mergers of the Federal Trade Commission (FTC) of the United States of America as an International Fellow.
For more than three years he has been part of the Corporate Compliance team at Baker McKenzie, handling matters related to personal data protection, corporate compliance (prevention of corruption and prevention of money laundering and terrorist financing) and competition.

Author

Luciano Visbal is an Associate in Baker McKenzie, Bogota office.

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