Brazil. The Administrative Council of Economic Defense (Cade) approved the purchase of Heatcraft from Brazil by the local company Elgin. The decision was published on August 7 in the Official Journal of the Union (DOU), and the value of the operation was not disclosed by the parties involved.
Now, the Brazilian company will be able to assume full control of the manufacturer of condensers, evaporators, compressor racks, remote condensers and refrigerated monoblocks belonging to the Lennox International group.
According to the Brazilian antitrust agency, the purchase does not trigger competitive concerns regarding potential and complementary vertical integrations.
With respect to horizontal overlaps in the domestic markets for components for light and intermediate commercial refrigeration systems, Cade concluded that the business also does not generate competitive concerns, as it does not alter the supply structure significantly.
