Paraguay’s competition watchdog clears first-ever deal

Berkemeyer Attorneys & Counsellors has helped Coca-Coca and Coca-Cola FEMSA close the Paraguayan leg of its acquisition of Unilever’s Latin American soy drinks unit AdeS, in the first deal to obtain approval from the country’s competition watchdog CONACOM since its creation three years ago.

Unilver hired Ferrere (Paraguay) for the deal, which was approved on 24 February. Coca-Cola paid US$575 million for the company in a cross-border acquisition first announced in June last year. The acquisition of assets included contracts, licences related to the business, intellectual property rights, intangible assets, plan equipment and real estate in Argentina and Mexico.Coca-Cola and its bottling arm Coca-Cola FEMSA filed for competition clearance in Paraguay within 10 days of the signing date. It took the National Commission of Competition (CONACOM) eight months to review the relevant documents before unconditionally approving the merger. The deal is the first to be approved by CONACOM since its creation in 2013.Counsel to Coca-Coca and Coca-Cola FEMSABerkemeyer Attorneys & CounsellorsPartner Hugo Berkemeyer and associate Carla SosaCounsel to UnilverFerrere (Paraguay)Partner Nestor Loizaga and associates Fabrizio Franco and Beatriz Recalde

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