The CNDC imposed a fine for late notification in March 2024

Summary:

The Comisiu00f3n Nacional de Defensa de la Competencia (CNDC) imposed a fine of 5.7 million Argentine pesos on Ulands S.A. for late notification of a concentration economy operation in March 2024. The company acquired a fraction of a farm in Santa Fe province, but failed to notify the transaction within the required timeframe, incurring a fine of 1,416.43 units mu00f3viles per day for eight working days. The fine is equivalent to 0.25% of the maximum daily possible, totaling 11,331.44 units mu00f3viles, approximately 5.7 million Argentine pesos. This is in accordance with the Ley 27,442 of Defense of Competition, which regulates the notification and authorization of concentration economy operations. The fine will be applied considering the gravity of the infringement, damage caused, market affected, and the company's economic capacity.