The CNDC issued an “Objection Report” in accordance with Section 4 of the Defence of Competition Act 27.442 as regards the authorization asked by ARCOR and INGREDION to jointly acquire INGREAR HOLDING S.A.

ARCOR is an Argentine multinational company specialised in three markets: massive consumption food, agribusiness and packages. On the other hand, INGREDION is an American multinational group, leader of ingredient solutions for the food and beverages industry.

After a deep analysis, the CNDC decided that the acquisition involves a direct effect which is the disappearance of an independent firm and a significant increase of concentration in the markets of corn wet-milling and its sub-products.

The CNDC issues an “Objection Report” whenever a notified acquisition is considered to have the potentiality of restricting or distorting competition in a market. As a consequence, on this occasion, the parties will be called for a special hearing to discuss the possible measures which would relieve the negative effect of that concentration on competition.