CADE launches 2025 Yearbook

On 11 February, the Administrative Council for Economic Defense (CADE) launched its 2025 Yearbook. It gathers the main data, decisions, and initiatives carried out by the authority over the past year, offering a comprehensive overview of its institutional activities in the Brazilian competition defence.

According to Gustavo Augusto, President of CADE, 2025 was a remarkable period, full of new developments, important cases and, principally, concrete results. "We reaffirm our constitutional commitment to defending free competition in the Brazilian market, working technically, effectively, and in line with the best national and international practices. It was also the year in which, for the first time , we achieved a four-and-a-half-star rating in the Global Competition Review (GCR) ranking, placing CADE among the six best competition agencies in the world," he stated.

Regarding CADE’s merger reviews, the agency received 873 notified transactions, totalling BRL 1.28 trillion in economic value, especially from the electricity generation, manufacturing, real estate, and retail sectors. Of all the mergers reviewed, 818 transactions were unconditionally cleared, with shorter procedural time, reinforcing the efficiency and predictability of the Brazilian merger control system.

In order to fight against anticompetitive conducts, the agency launched 90 investigations covering cartels, unilateral conduct, as well as uniform commercial practices. In 2025, CADE carried out search and seizure operations, signed leniency agreements, and cleared 77 cease and desist agreements, collecting BRL 669 million in financial contributions, in addition to imposing fines totalling more than BRL 369 million.

The Yearbook also highlights the consolidation of CADE's digital improvements, with the implementation of the “Circuito Deliberativo Virtual”, the modernisation of systems such as the E-Notifica, the launch of new features on the SEI system, the strengthening of data security, and the development of transparency tools, such as the CADE in Figures panel.

In addition, it records the agency’s international prominence, recognised with global awards and rankings, as well as its efforts to produce and disseminate knowledge, with the publication of economic studies, technical documents, and initiatives aimed at improving the quality of the antitrust debate in Brazil.

The Yearbook reaffirms CADE’s commitment to competition defence, regulatory efficiency, transparency, and institutional modernisation, contributing to a more competitive economic environment favourable to consumers and society.

Access the summary and the full Yearbook!