Santiago, November 11, 2025 — The Chilean tribunal has imposed a CLP 2.4 billion (approximately $2.5 million) fine on Cadena Comercial Andina (CCA), part of Grupo Oxxo, for submitting false information during its 2021 merger notification with Ok Market.
Following a referral by the Fiscalía Nacional Económica (FNE), the tribunal imposed the fine on the company for violating Article 3 bis (e) of Decree Law No. 211 of 1973, which penalizes parties that deliver false information in merger filings.
In its ruling, the tribunal stressed that accurate, complete, and timely information is essential for effective merger control, given the short deadlines for review. It added that merger decisions affect not only the notifying parties but also the broader market, making full disclosure critical to avoid errors and safeguard market conditions.
According to the authority, CCA initially stated that only six documents were relevant to the review, but later expanded the list to 34. The FNE’s investigation later uncovered at least 60 additional studies, analyses, surveys, and reports in the company’s possession containing key market data that were not provided during notification.
FNE Chief Jorge Grunberg welcomed the decision, saying it “protects the effectiveness of the preventive merger control system and reaffirms that those notifying a transaction must proactively provide all required information truthfully, accurately, and completely.”
The case originated from a December 2022 filing by the FNE. A separate aspect involving CCA’s failure to comply with merger remedies — specifically, to waive exclusivity clauses in certain lease contracts — was settled in July 2023 when the tribunal approved a conciliation under which CCA acknowledged the breach and paid CLP 380 million.
