The General Superintendence of the Economic Defense Administrative Council (SG-CADE) declared the proposed combination between BM&FBOVESPA and CETIP S.A. as complex, allowing additional investigation. SG-CADE ordered further analysis of the efficiencies resulting from the transaction, additional information on entry conditions in the relevant markets, and additional information on the corporate governance rules of the combined entity. SG-CADE maintained the 240-day deadline to complete its analysis as stipulated by law. BM&FBOVESPA will continue cooperating with CADE to obtain approval of the business combination with CETIP as soon as possible.
The General Superintendence of the Economic Defense Administrative Council (SG-CADE) declared the proposed combination between BM&FBOVESPA and CETIP S.A. as complex, allowing additional investigation. SG-CADE ordered further analysis of the efficiencies resulting from the transaction, additional information on entry conditions in the relevant markets, and additional information on the corporate governance rules of the combined entity. SG-CADE maintained the 240-day deadline to complete its analysis as stipulated by law. BM&FBOVESPA will continue cooperating with CADE to obtain approval of the business combination with CETIP as soon as possible.
The General Superintendence of the Economic Defense Administrative Council (SG-CADE) declared the proposed combination between BM&FBOVESPA and CETIP S.A. as complex, allowing additional investigation. SG-CADE ordered further analysis of the efficiencies resulting from the transaction, additional information on entry conditions in the relevant markets, and additional information on the corporate governance rules of the combined entity. SG-CADE maintained the 240-day deadline to complete its analysis as stipulated by law. BM&FBOVESPA will continue cooperating with CADE to obtain approval of the business combination with CETIP as soon as possible.
Brazilian Federal Taxpayer CNPJ No.09.346.601/0001-25 Corporate Registry (NIRE) No. 35.300.351.452 MATERIAL FACT BM&FBOVESPA S.A. Bolsa de Valores, Mercadorias e Futuros (BM&FBOVESPA) informs that the General Superintendence of the Economic Defense Administrative Council (SG-CADE) issued today a ruling (Ruling) declaring complex the Concentration Act 08700.004860/2016-11, which analyzes the proposed combination between BM&FBOVESPA and CETIP S.A. - Mercados Organizados (CETIP). The Ruling is a procedural act provided for by Law 12,529/2011, article 56, which allows SG-CADE to order additional investigation. In this case, the SG-CADE has ordered further diligences as follows: (i) request CADEs Department of Economic Studies an assessment of the efficiencies resulting from the transaction, as presented by BM&FBOVESPA and CETIP (ii) request additional information regarding entry conditions in the analyzed markets and (iii) request additional information regarding the corporate governance rules of the combined entity. SG-CADE understood that, at the moment, it is not necessary to extend the deadline for the analysis of the case, maintaining the 240-day deadline stipulated by Law 12,529/2011, article 88 (2) for its completion. BM&FBOVESPA will continue to cooperate with CADE in order to obtain the approval of its business combination with CETIP as soon as possible.
So Paulo October 13, 2016
Daniel Sonder Chief Financial Officer
Investor Relations BM&FBOVESPA | Praa Antonio Prado, 48 6 floor So Paulo SP | Tel: