Which regulatory approvals and antitrust filings are required to close a merger in Colombia and what timelines apply?

Thank you for contacting Lynceus law Firm, regarding the authority, for most cases we are looking at the Superintendencia de Industria y Comercio, or the SIC. On the thresholds, we need to look at both fiscal year 2024 numbers. If the two companies combined, or even just one of , had assets or operating income over roughly 81 billion pesos, we typically have to notify. Time-wise, it really comes down to your market share. If the combined entity stays under 20% of the market, we can file a simple notification and essentially be done in a couple of weeks. But if you are over that 20% mark, we enter the longer process. That starts with Phase I which is 30 business days, and if they have concerns, they move to Phase II which can drag out for 5 to 8 months depending on how many questions they ask. The good news is that if they don't answer within the legal deadlines, the law assumes approval via administrative silence. Finally, regarding remedies, usually they only ask for them if they think you are creating a dominant position that hurts the market. They usually prefer structural fixes. Best regards Laura Grisales Rendón