CADE determines that the purchase of MaxMilhas by 123 Milhas be notified for analysis

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Summary:

The Brazilian Administrative Tribunal of Economic Defense (CADE) has decided to notify the operation involving the purchase of MM Turismo & Viagens (MaxMilhas) by 123 Milhas for review by the economic defense authority. The decision was made after the company filed a lawsuit against the General Superintendent's decision to require the submission of the concentration act. The CADE Tribunal's relator, Gustavo Augusto, concluded that although the operation may not meet the legal criteria for obligatory notification, it poses risks to the competitive market, justifying a review of its impacts on the market for flight ticket sales and the purchase of airline miles. The notification deadline is 30 days from the publication of the session's document, and non-compliance will result in a daily fine of R$50,000.