CADE recognizes the practice of gun jumping among energy generation companies

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Summary:

The Brazilian Administrative Court of Economic Defense (Cade) has approved, by a unanimous vote, a settlement proposal in an Administrative Procedure for the Investigation of a Concentration Act (Apac) between Illian Energias Renovu00e1veis, Solar Irecu00ea, and Solar Irecu00ea 3. The agreement involves the payment of a pecuniary contribution to the Fund for the Defense of Diffuse Rights (FDD). The Apac was initiated to investigate Illian's acquisition of the entire capital stock of Solar Irecu00ea and Solar Irecu00ea 3 without prior Cade approval. The parties had notified the operation to the autarquia in February 2023, although the acquisition took place in September 2021. The relator, Conselheiro Diogo Thomson, considered the practice to be "gun jumping""