In a petition sent to the Superintendence of the Administrative Council for Economic Defense (Cade), Hypera () accuses the NC group, conglomerate owner of EMS, to force a combination between the two pharmacists. Last December, the Dodgers Fund acquired 2% of the company’s shares. Carlos Sanchez, owner of the NC group, is a final beneficiary of this fund, says Hypera in the document.
“The NC group does not present to Cade the true reality of the facts, which clearly and unequivocally demonstrate its real intention: a unbridled onslaught, using all possible means, neglecting existing competition risks to influence hypera,” the document says.
Hypera recalls that Carlos Sanchez “tried and insisted on conducting business combination of the NC and Hypera group”, and that recent acquisitions of participation by Dodgers gives the image of “a harmless and naive acquisition of strictly financial minority participation.”
The petition also says that the NC group can make use of its shareholder condition, even if minority, to obtain competitively sensitive Hypera information and use it for its own benefit. In addition, the conglomerate could use this participation to elect managers of their trust.
Hypera explained that, with a share of more than 5% in the company, the shareholder may apply for elections from candidates for the Board of Directors by multiple vote, include proposals and convene general shareholders’ meeting, among other rights. “It is not, therefore, a little influence on the company’s life,” says the text.
“The NC Group’s strategic movement aims to clearly have a significant influence on Hypera, using its shareholding position to obtain competitively sensitive information and interfere with the management of the company, including through the election of administrators of their trust,” says the petition.
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“It is imperative that Cade conducts a rigorous and thorough analysis of this act of concentration, taking into account all the facts and contexts presented. The approval of this act without proper caution can result in irreparable damage to competition,” says the text.
