Mexico’s Competition Commission (the Commission) fined six companies -more than 58 million pesos- dedicated to the sale of gasoline and diesel to consumers for failure to notify two concentrations to the Commission.

According to the Mexican law a concentration occurs when entities, shares of stock, partnership interests, trusts or assets are combined by means of a merger, an acquisition, or any other way.

When a concentration reaches certain thresholds or the entities involved in the concentration have profits or assets that exceed given amounts, the Commission shall authorize the concentration before it is executed, implemented, or even formalized. Otherwise, the entities involved might be subject to sanctions.

In its announcement, the Commission pointed out that the fines imposed to the six entities are the first sanctions in the Commission’s existence regarding a concentration involving a series of related events.

See the Commission’s announcement in the link below (in Spanish).

By Antonio Cervantes Acosta

Photo by Dawn McDonald on Unsplash