The Chilean Competition Authority (FNE) has cleared, in Phase 1, the merger between BICECORP and Grupo Security after determining that it would not substantially lessen competition in any market or segment concerned.<\/p>\n
Following an investigation that began on July 3\u2014during which the FNE gathered information from the parties involved, their competitors, and clients, as well as from the Chilean Financial Market Commission (CMF) and the Central Bank of Chile\u2014a structural assessment of each relevant market and segment was carried out. This assessment concluded that, in most cases, the transaction does not exceed the concentration thresholds outlined in the FNE\u2019s Horizontal Merger Guidelines. This was true for example in the retail and corporate banking segments, as well as in other banking products and services, life insurance, asset management, stock trading, and transferable mortgage loans.<\/p>\n
Conversely, in the markets and segments that did exceed the concentration thresholds\u2014such as ATM services, collective health insurance, mortgage financing instruments, administration of transferable mortgage loans, and asset securitization\u2014the FNE conducted a detailed assessment of possible horizontal unilateral effects. It concluded that the concentration would not lessen competition in these respects. The same conclusion was reached regarding potential vertical effects.<\/p>\n
The FNE also determined that the implementation of the merger would not substantially affect access to financing for companies in the electric and forestry industries, in which the controller of BICECORP also participates.<\/p>\n
The resolution and approval report of the transaction will be published on the FNE\u2019s website once public versions of these documents are available.<\/p>\n
<\/p>\n
The Parties<\/strong><\/p>\n BICECORP is the holding company of a national group active in the banking and financial industry, life insurance, asset management, stock exchange, and other related activities. It is controlled by Forestal O\u2019Higgins S.A., which also participates in the electric and forestry industries.<\/p>\n Grupo Security is the holding company of a national group active in the banking and financial industry, life insurance, asset management, stock exchange, and other related activities. It is also involved in real estate management and travel agency services.<\/p>\n","protected":false},"excerpt":{"rendered":" The Chilean Competition Authority (FNE) has cleared, in Phase 1, the merger between BICECORP and Grupo Security after determining that it would not substantially lessen competition in any market or segment concerned. Following an investigation that began on July 3\u2014during which the FNE gathered information from the parties involved, their competitors, and clients, as well […]<\/p>\n","protected":false},"author":4,"featured_media":87377,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"ngg_post_thumbnail":0,"footnotes":""},"categories":[315],"tags":[],"class_list":["post-100532","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-noticias-en"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.fne.gob.cl\/en\/wp-json\/wp\/v2\/posts\/100532"}],"collection":[{"href":"https:\/\/www.fne.gob.cl\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.fne.gob.cl\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.fne.gob.cl\/en\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.fne.gob.cl\/en\/wp-json\/wp\/v2\/comments?post=100532"}],"version-history":[{"count":1,"href":"https:\/\/www.fne.gob.cl\/en\/wp-json\/wp\/v2\/posts\/100532\/revisions"}],"predecessor-version":[{"id":100533,"href":"https:\/\/www.fne.gob.cl\/en\/wp-json\/wp\/v2\/posts\/100532\/revisions\/100533"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.fne.gob.cl\/en\/wp-json\/wp\/v2\/media\/87377"}],"wp:attachment":[{"href":"https:\/\/www.fne.gob.cl\/en\/wp-json\/wp\/v2\/media?parent=100532"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.fne.gob.cl\/en\/wp-json\/wp\/v2\/categories?post=100532"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.fne.gob.cl\/en\/wp-json\/wp\/v2\/tags?post=100532"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}