Client Requirement: The client is part of a global reorganization of the group in order to obtain efficiencies in the corporate and commercial areas.
Our Participation: We have advised the client in the structuring, drafting and implementation of the corporate reorganization between the companies of its group that own the Peruvian entity. For such purposes we made a corporate and a tax analysis in order to clarify any impact on the taxes to be paid by the shareholders or the information disclosed due to such operations.
Deal Challenges: As a consequence of the global corporate reorganization the local company remained with only one shareholder. According to Peruvian law, companies shall have at least 2 shareholders. If for any reason a company has only 1 shareholder such situation shall be corrected in a period of 6 months. Otherwise, the company may be in a dissolution cause. The corporate reorganization was made some time before we were informed of the situation. Therefore, we had to act fast in order to register the new shareholder before the Public Registry and correct the legal situation.
