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CADE settles with UTC on two gun-jumping cases

By Flavia Fortes ( February 5, 2014, 16:23 GMT | Insight) -- The Brazilian competition authority accepted settlement proposals from oil company UTC regarding findings that it jumped the gun on two deals, effectively closing them before receiving regulatory approval. The regulator accepted the payment of 60,000 reais ($25,000) in each of the two cases, which involved deals with Aurizônia Petróleo and Potióleo Óleo e Gás, but the transactions weren't nullified.The Brazilian competition authority accepted settlement proposals from oil company UTC regarding findings that it jumped the gun on two deals, effectively closing them before receiving regulatory approval....

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