After the preliminary analysis in Phase I, the FNE concluded that an in-depth assessment was necessary given that the operation between Oxxo and Ok Market –the two closest convenience store chains in Chile–, could raise horizontal antitrust concerns and reduce competition, since the merged entity would have the incentives and the ability to increase the prices of the products commercialized in the parties’ stores.

Oxxo’s convenience stores are controlled by the international group FEMSA (which in Chile also participates in the pharmaceutical market). Ok Market is controlled by SMU, part of a business group with presence in the groceries retail segment.

Since December 17^th, 2020 and during the first phase of investigation, the FNE examined the overlapping activities of the parties, determining that there would be specific areas of influence in which, after closing, the parties would become the only two actors in the convenience store segment. Moreover, certain background information would indicate that Oxxo and OK Market stores would be competitively close with respect of the products offered, type of access and locations.

Due to above, and according to the provisions of local competition law, the FNE decided to extend the analysis of the transaction for up to a period of 90 business days estimating that, should the operation is completed, it could substantially reduce competition.

Any third party that may have an interest in the transaction, including suppliers, distributors, competitors or consumers, may provide information to investigation within 20 business days following the publication on this website of the resolution extending the investigation, which will take place in the next few days once the confidentiality issues have been resolved.

For such purposes, a public version of the file will be available, the delivery of which must be coordinated by email sent to Francisco Urcelay (furcelay@fne.gob.cl) or Constanza Weber (cweber@fne.gob.cl), or by calling (56 2) 2753 5612.