1. “An ex-officio action
is, by definition, an
independent action of
any person or
institution, whether
public or private,
including those who
have requested one.
The information
provided by the
ANEP will be taken
into consideration
and complemented
with that presented
by other economic
agents involved”,
asserted Francisco
Diaz Rodriguez,
Competition
Superintendent.
Press Release C. 02-13
El Salvador, February 13
th
, 2013
CS initiated ex-officio an investigation
regarding ALBA PETRÓLEOS
The Competition Superintendence (CS) has initiated ex-officio an investigation in order to determine
if the company ALBA PETRÓLEOS EL SALVADOR has infringed the Salvadoran Competition Law (CL)
by executing a merger or acquisition without previously requesting the CS its authorization.
After analyzing the request filed by the National Association of the Private
Enterprise (in Spanish, Asociación Nacional de la Empresa Privada or its acronym
“ANEP”), as well as the latest public statements of representatives of ALBA
PETRÓLEOS DE EL SALVADOR, the CS has initiated ex-officio an investigation
in order to determine if said company has infringed the CL by executing a merger
or acquisition without previously requesting the CS its authorization.
Pursuant to Article 61 letter b) of the CL Regulations, the CS will carry on the
investigation to determine the above cited alleged violation.
According to Article 33 of the CL: “Mergers or acquisitions whose combined total
assets exceed fifty thousand minimum urban annual wages in the industrial sector
or whose total income exceeds sixty thousand minimum urban annual wages in
the industrial sector shall request the Superintendence prior authorization”.
In its Article 31, the CL establishes that a merger or acquisition takes place when:
a) Economic agents that have been independent from each other enter
into acts, contracts, or agreements, with the purpose of totally of partially merging,
acquiring, consolidating, integrating, or combining their businesses; and,
b) When one or more economic agents who control at least one other
economic agent acquire through any means whatsoever, the direct or indirect, total or partial control of more
economic agents.
The information provided by the ANEP will be taken into consideration and complemented with that presented
by other economic agents involved. If the CS proves the infringement of Article 33 or other provisions of the
CL, said institution shall take the pertinent legal actions. As usual, the CS shall fully secure the required
confidential information.