Mergers & Acquisitions VMF - Vitale, Manoff & Feilbogen
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Mergers & acquisitions

 

During the 1990’s Argentina received a considerable flow of investments, as a result of a process of liberalization and stabilization in the country’s economy. The capitals were mainly placed on equity investments, in large and medium-size local corporations. This tendency coincided with the privatization of state-owned utilities, which in turn boosted the market of Mergers and Acquisitions throughout the country.

The Argentine legislation provides a number of possibilities for the acquisition of business: a) shares, b) assets, c) going concern. Most of the transactions in these years consisted of private purchase of the controlling holding of shares of the acquired company, that is, without a public offer of acquisition through the Capital Market. This was due to the typical nature of most Argentine companies, which were family-owned.

Vitale, Manoff & Feilbogen is a leader legal advisor on this type of transactions. In effect, the Firm has advised both acquiring and acquired companies, following the various phases of the acquisition process and covered each stage of the transactions: analysis and feasibility, preliminary negotiations, intent letters, confidentiality agreements and due diligence processes, and drafting of the relevant legal instruments.

The particular nature of each industry requires a careful study of the pertaining governing laws. The Firm has worked in a wide range of sectors, from the marine to the building industry, from Internet and ISP companies, to food, oil and gas, telecommunications and mining corporations.
The Firm has experts in the valuation of businesses, and also provides advise on available techniques for financing acquisitions. This knowledge is applied to the Acquisition Agreements that the experts have had the opportunity to draft or review.

M&A transactions involve company registration and the recording of securities before the supervising administrative entities, in this case the National Securities Committee, the Central Bank of the Argentine Republic and the National Insurance Superintendence.

The recently enacted Anti Trust laws deserve some comment. Similarly to the U.S. antitrust system, Argentina has specific regulations for obtaining governmental approval of transactions of a certain volume. These laws and regulations are recent and require accurate and updated knowledge. Members of the Firm have participated in the writing of these rules and cooperated in its implementation. Thus, Vitale, Manoff & Feilbogen may justifiably boast that it offers its clients the best possible advise in this area.

 
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VMF - Vitale, Manoff & Feilbogen
Viamonte 1145 piso 10 of. A
(C1053ABW) Buenos Aires
República Argentina
Teléfono:
(5411) 4371-6100
vmf@vmf.com.ar