Safras and NovaAgri fined for gun jumping

On 27 November, the Tribunal of the Administrative Council for Economic Defense (CADE) fined Safras and NovaAgri to pay more than BRL 2 million for gun jumping. 

The transaction consisted of Safras’ acquisition of a  rural property owned by NovaAgri, in the municipality of Nova Maringá (MT). The parties submitted the acquisition to CADE, which was approved without restrictions in February 2024. However, the investigations of the Office of the Superintendent General at CADE showed evidence that they completed the transaction before CADE’s clearance. 

The acquirer received and used the property after paying 88.75% of the total amount of the transaction, enough to allow NovaAgri to issue a payment receipt and transfer the asset. 

Therefore, the Tribunal decided unanimously that the parties committed gun jumping. The commissioners followed the vote of the rapporteur of the case, Commissioner Diogo Thomson, which considered the seriousness factor of intentionality. CADE applied a tax rate of 0.03% and reduced the fine to 50% due to the voluntary notification of the acquisition (according to Article 21, Items 2 and 3 of CADE Resolution no. 24/2019). 

The companies are to make a financial contribution of more than BRL 2 million to the Fund for De Facto Joint Rights (FDD) of the Ministry of Justice and Public Security (MJSP). 

Access Case no. 08700.001008/2024-93.