Colombia: SIC Sets Merger Control Thresholds and Fees

In brief

The Superintendence of Industry and Commerce (SIC), through Resolutions No. 15 and No. 4806 of 2026, has set the thresholds for determining whether a merger must be notified in 2026, as well as the fees applicable to the prior merger control procedure for that year.

Key points

1. With respect to the thresholds used to determine whether a merger must be notified in 2026, Resolution 15 of 2026 provides the following:

• In Colombia, mergers between market participants engaged in the same economic activity (horizontal integrations) or forming part of the same value chain (vertical links) must be reported, provided that they exceed, individually or jointly, the total assets or operating revenue thresholds established by the SIC for that purpose.
• The SIC set these total asset or operating revenue thresholds at 7,074,307.43 Basic Value Units (UVB), equivalent to COP 85,669,862,977.3 (approximately USD 22,802,246.15 at the representative market exchange rate in effect on 31 December 2025).
• This Resolution has been in force since 2 January 2026.

2. Resolution 4806 of 2026 established the fees applicable in 2026 for the prior merger control procedure, based on the following criteria:

Regarding the fees applicable to the notification process and the preliminary Phase I review:

• The fee for the notification filing will be COP 3,779,755, equivalent to USD 1,041 at the current Representative Market Exchange Rate (TRM).
• The fee for the preliminary review of the Phase I pre‑evaluation request will be COP 20,487,673, equivalent to USD 5,646 at the current TRM.

If the pre‑evaluation proceeds to Phase II (in‑depth review), the applicable fee will depend on the combined operating revenues and total assets of the parties involved:

1. If, during the fiscal year preceding the transaction, the operating revenues or total assets of the parties involved were equal to or greater than three times the threshold established by the SIC for merger control in 2026 — that is, equal to or greater than COP 257,009,588,931, equivalent to USD 70,837,446 at the current TRM — the applicable fee will be COP 53,930,784, equivalent to USD 14,864 at the current TRM.
2. If, during the fiscal year preceding the transaction, the operating revenues or total assets of the parties involved were between two and three times the threshold established by the SIC for merger control in 2026 — that is, between COP 171,339,725,954, equivalent to USD 47,224,964 at the current TRM, and COP 257,009,588.931, equivalent to USD 70,837,446 at the current TRM — the applicable fee will be COP 45,837,052, equivalent to USD 12,633 at the current TRM.
3. If, during the fiscal year preceding the transaction, the operating revenues or total assets of the parties involved were between one and two times the threshold established by the SIC for merger control in 2026 — that is, between COP 85,669,862,977.30, equivalent to USD 23,612,482 at the current TRM, and COP 171,339,725,954, equivalent to USD 47,224,963 at the current TRM — the applicable fee will be COP 37,743,371, equivalent to USD 10,402 at the current TRM.

• The foregoing fees apply to proceedings initiated after 27 January 2026.

Additional information

For further details, Resolution 4806 of 2026 may be accessed at this link.

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