Societario | Promulgación del Decreto N° 6583/22 que reglamenta la Ley 6872/21

El 25 de enero de 2022 el Poder Ejecutivo promulgó el decreto 6583/22 (el «Decreto») que reglamenta la ley 6872/21 (la «Ley») que ha establecido un régimen especial de reconducción de las sociedades anónimas incumplidoras de la obligación de canje de las acciones al portador a nominativas y que estaban obligadas a disolverse, de acuerdo con lo previsto en la ley 6399/19. En ese sentido, están alcanzadas por las disposiciones del Decreto aquellas sociedades que: 

a. No hayan cumplido con ningún trámite para el canje de sus acciones al portador a nominativas, no habiendo modificado sus estatutos en ese sentido o habiéndolo hecho fuera de plazo. 

b. Habiendo modificado sus estatutos para la conversión de sus acciones al portador a nominativas no han realizado el canje de ninguna acción o lo han hecho fuera de plazo.  

Habida cuenta de lo anterior, las sociedades que podrán acogerse a lo dispuesto por la Ley y el Decreto deben tener en cuenta que:

  1. La decisión de reconducción deberá ser adoptada por unanimidad en la asamblea extraordinaria de accionistas (la «Asamblea»).
  2. Se permitirá la participación de las acciones al portador en la Asamblea.
  3. De no participar el 100% del capital, se deberá hacer una reducción de capital en proporción a la cantidad de las acciones que no hayan participado de la asamblea.
  4. En el orden del día la Asamblea deberá tratar los siguientes puntos: la reconducción de la sociedad, la modificación de estatutos de la sociedad para eliminar la palabra «al portador», el canje de las acciones y, si fuere el caso, la reducción del capital social de conformidad al supuesto del numeral 3, anterior.
  5. Respecto a las sociedades que hayan realizado la conversión de las acciones pero que no hayan procedido al canje o lo hayan hecho fuera del plazo, la Asamblea deberá tratar la reconducción de la sociedad, el canje de las acciones y, si correspondiere, la reducción del capital social en proporción a las acciones que en su momento no se hayan presentado a canjear.
  6. Las sociedades que hayan realizado la reconducción deberán cumplir con las correspondientes comunicaciones de asambleas ante la Dirección General de Personas y Estructuras Jurídicas y Beneficiarios Finales (DGPEJBF) del Ministerio de Hacienda, previo pago de la multa que correspondiere.
  7. Deberán elevar a escritura pública el acta de la Asamblea y solicitar el correspondiente dictamen de modificación de estatutos a la DGPEJBF y proceder a su inscripción en la Dirección General de los Registros Públicos (DGRP). 
  8. Realizada la conversión de las acciones se deberán sustituir los certificados provisionales emitidos en la Asamblea que decidió la reconducción de la sociedad, y comunicar a la DGPEJBF en un plazo de 15 días posteriores a la inscripción de la escritura en la DGRP.
  9. Las sociedades que hayan modificado sus estatutos pero no hayan hecho el canje o lo hayan hecho fuera de plazo, deberán realizar la sustitución de los certificados provisionales o acciones al portador por las acciones nominativas en un plazo de 15 días posteriores a la Asamblea que decide la reconducción de la sociedad.

El plazo definitivo para llevar a cabo la reconducción finaliza el próximo 16 de junio de 2022. Las sociedades que para dicha fecha no hayan procedido a la reconducción, de conformidad con los términos de la Ley y el Decreto, deberán, indefectiblemente, liquidarse y disolverse.

Por último, el Decreto establece un calendario para el cumplimiento del proceso de reconducción de sociedades según la terminación del Registro Único de Contribuyentes (RUC), que es el siguiente:

TERMINACION DEL RUCVENCIMIENTO
0, 1, 2 y 328/02/2022
4, 5 y 615/04/2022
7, 8 y 916/06/2022

Para más información respecto a esta noticia, por favor póngase en contacto con nuestra socia, Perla Alderete (palderete@vouga.com.py) y/o con nuestra asociada, Camila Dutra (cdutra@vouga.com.py)  

Paraguay Law Firm of the Year 2021

We were once again recognized as the best law firm in Paraguay!
 
VOUGA ABOGADOS was selected by Chambers and Partners, the prestigious publication that annually recognizes the best law firm in each country, as the best law firm in Paraguay in 2021 in the Latin America Awards. The Chambers awards are the highest distinction for law firms worldwide.
 
For the second consecutive year and for the third time in the last five years, Vouga Abogados is selected as the best law firm in Paraguay.
 
We are grateful to our team and our customers for such an important achievement!

Paraguayan Firm of the Year 2021

Leaving behind the disposable culture and recovering what is reusable

The global production of plastics has skyrocketed in the last 50 years, and especially in the last decades, according to data published by the Greenpeace organization. The publication mentions that in the last ten years we have produced more plastic than in the entire history of mankind. According to a report by the United Nations, it is estimated that around 5 trillion plastic bags are consumed worldwide every year, which is equivalent to almost 10 million bags per minute.


Governments around the world are becoming increasingly aware of the magnitude of plastic pollution. So far, more than 60 countries have enacted official measures and dozens more are working on regulations and strategies to tackle one of the biggest environmental problems of our time, according to a report published by UN Environment. Fortunately, Paraguay is no exception.

As of July 1, 2021, the Government seeks to enforce the long-awaited, and several times postponed, Law 5414/2015 "That Promotes the Decrease in the Use of Polyethylene Plastic" (the "Law"), with its Regulatory Decree 5537/2016 (the "Decree"), which seeks to regulate the consumption of single-use polyethylene bags employed by supermarkets, self-service stores, food stores and stores in general for the transportation of products or merchandise, which must be progressively replaced by others reused or made with non-polluting and reusable alternative biodegradable materials.

The enforcement authority is the Ministry of Industry and Commerce (MIC), in coordination with the municipalities.


La Ley establece que se deberá reemplazar en forma gradual el uso de bolsas de polietileno de un solo uso por otras reutilizables o confeccionadas con materiales biodegradables alternativos no contaminantes y reutilizables en el plazo de doce meses, en el sector minorista en mercados, supermercados y comercios con predominio de productos alimenticios y bebidas, y de veinticuatro meses, para todos los demás establecimientos, incluyendo los de venta al por mayor. Posteriormente, por Res. 353/2017 se estableció un cronograma de reemplazo gradual de bolsas de polietileno de un solo uso, que iba desde el 1° de septiembre 2018 hasta el 1° de septiembre 2023, estableciendo que, en septiembre de 2019, las bolsas de polietileno de un solo uso ya no deberían ser comercializadas. Esta Resolución fue luego modificada por Res. 453/2019 que estableció un nuevo cronograma que iba desde el 1° de mayo 2019 hasta el 1° de febrero 2024, estableciendo que, a partir del 1° de febrero 2020, las bolsas de polietileno de un solo uso ya no deberían ser comercializadas.

However, by decree 3920/2020 and then by law 6636/2020, stores in general have been authorized to use polyethylene bags and other "conventional" plastic material while the pandemic emergency law 6524/2020 is in force, in accordance with the exception provided for in art. 9 of the Law, applicable when it is necessary to use polyethylene bags or other conventional plastic material for food safety or sanitary issues.

Recientemente, mediante CIRCULAR SSECS N° 01/2021 (la “Circular”), el MIC estableció que a partir del 1° de noviembre de 2021 todos los negocios deben disponer de bolsas reutilizables (de material virgen o material de alto contenido reciclado) La misma Circular también prevé un proceso de ajuste y transición desde el 1° de julio al 31 de octubre de 2021 para que todas las empresas productoras de las bolsas reutilizables puedan obtener la certificación necesaria ante el INTN a fin de satisfacer la demanda que tendrán por parte de los negocios.

Another obligation imposed by the Law is that the obligated parties must display at least the following legend on the cash registers: "LET'S TAKE CARE OF THE ENVIRONMENT, REDUCE - REUSE - RECYCLE PLASTIC BAGS. WHEN SHOPPING, TAKE YOUR REUSABLE BAG WITH YOU".

La Res. 353/2017 establece los precios mínimos que los comercios deberán cobrar por las bolsas de polietileno de un solo uso utilizadas para el transporte de mercaderías a fin de estimular que los consumidores lleven sus propias bolsas reutilizables o cajas de cartones o cualquier recipiente para evitar en lo posible el uso de bolsas de plástico.

The General Directorate of Internal Commerce of the MIC will be in charge of controlling stores comply with the regulation.

Failure to comply with the Law and its regulations may result in fines from 10 to 500 minimum daily wages, requiring prior administrative proceedings before the General Directorate of Legal Affairs of the MIC.

La ley determina que los productos regulados por la misma deberán contar con la certificación del Instituto Nacional de Tecnología, Normalización y Metrología (INTN), el cual verificará que los componentes y materiales utilizados en la fabricación de bolsas cumplan con los criterios de biodegradabilidad alternativos no contaminantes establecidos. Hasta el momento, por Res. MIC 178/2021, se estableció la certificación obligatoria de las bolsas de plástico polietileno reutilizables y de las bolsas de plástico reutilizables con alto contenido reciclado. Esta certificación se efectúa de acuerdo con el Reglamento de Evaluación de la Conformidad (Anexo 1 de la Resolución 178/2021).

Resolution 353/2017 also creates the Register of Manufacturers and Importers of plastic bags (polyethylene, polypropylene, and other thermoplastics) and biodegradable bags (paper, biodegradable plastic) that will be managed by the General Directorate of Domestic Trade of the MIC. Interested parties must submit the registration applications by completing Annex II (Natural Person) or Annex III (Legal Entity), which are part of said resolution. It also establishes that the National Customs Directorate (DNA) will only grant import permits for plastic bags and biodegradable bags that have a previous import license issued by the MIC, the requirements of which are detailed in the same resolution.

Muchos llaman a esta Ley “Antihule” o “Antiplásticos”, cuando que, en realidad, la ley no prohíbe el uso de plásticos o bolsas de plásticos de polietileno a nivel general, sino que exige que las bolsas de plástico de un solo uso no sean más comercializadas por los comercios y determina que las que se ofrezcan y utilicen para el transporte de mercaderías estén certificadas por el INTN y sean de mayor espesor para ser reutilizables. Es decir, el espíritu de la Ley es más bien que los consumidores reutilicen sus bolsas de plásticos o utilicen bolsas biodegradables, por lo que, al menos por ahora, continuarán las bolsas de plástico en las cajas registradoras de los comercios, pero con un costo adicional para el consumidor. Es importante resaltar que esta Ley no abarca bolsas de basura. Igualmente podemos decir que es quizás un primer paso hacia lo que otros países han logrado: la disminución o hasta prohibición del uso de bolsas de plástico para el transporte de mercaderías.

The reduction and improvement of the use of plastics is a global trend now being implemented for several years in many countries around the world, but coincidentally many of them have chosen 2021 as the year of #plasticfree, with numerous campaigns of millions of public and private organizations working to raise awareness not only with governments, but also with consumers for a world with less plastics. The main campaigns in July are precisely #juliosinplasticoplastic free july - challenge, among others.

In Chile, for example, since July of this year, single-use plastics -such as cutlery, stirrers, straws, plumavit articles, containers and cups, among others- have been prohibited in all prepared food outlets, whether for consumption inside the premises or for delivery. Failure to comply with this rule results in fines for the benefit of the municipality.

Another example is Spain, where, in addition to measures taken years ago such as charging for bags in supermarkets and other businesses, there is now a draft Law on Waste and Contaminated Soil that for the first time limits the use of single-use plastics in certain areas, such as food, and incorporates restrictions on their sale. One of the key measures of this bill is a tax of €0.45 per kilogram on non-reusable plastic packaging. Since July 3, 2021, the introduction of a number of products on the market is prohibited: cotton swabs, allowed only in the sanitary area, cutlery, plates, straws and beverage stirrers, except those with industrial or professional uses.

Mexico City started 2021 with the ban on single-use plastics, therefore, as of January 1, 2021 "the commercialization, distribution and delivery of single-use plastic products is prohibited", according to the published rule. So far, 28 states have approved and published laws related to plastics, and there are 183 bills in Congress to ban, replace or reduce the consumption of plastics in Mexico.

Costa Rica, one of the world's leading examples in this area, has a mission to ban all single-use plastics by 2021. The country's ultimate goal is to become a carbon neutral nation by 2050. Other countries such as the United Kingdom and the Netherlands have also set 2050 as the target to bring their net carbon emissions to zero. Germany, for its part, aims to eliminate the use of coal by 2038 at the latest and, in the meantime, continues to invest in renewable energies.

A nivel Unión Europea, en el 2019 se aprobó en Bruselas una directiva comunitaria UE 2019/904 que tiene como fin la prohibición de vender productos de plástico de un solo uso en todos los países miembros de la Unión Europea. La fecha límite para que los países miembros adapten su legislación a esta nueva directiva se ha fijado para el 3 de julio de 2021. Esta directiva afecta a los productos fabricados en plástico que sean desechables o de usar y tirar. Es el caso de: hisopos, bolsas de plástico, pajitas, platos, vasos y cubiertos de carácter desechable, recipientes o envases para comida.

If plastic bag bans are properly planned and enforced, they can effectively counteract one of the causes of excess and misuse of plastics. However, solving the problem at its roots requires changes in the habits of consumers, retailers and manufacturers, and the adoption of sound policies that promote a more circular model of plastics design and production.

In the meantime, all of us as consumers have a key role in the correct application of this new Law and as a first step we could join the #JulyWithoutPlastics challenge that is going around the world and that was promoted in Paraguay by @paraguaysinbasura. The World Wide Fund For Nature (WWF) determined that the average use of a plastic bag is 15 minutes while it takes many years to decompose.

Deadline for holding assemblies by telematic means is extended

Por medio del Decreto N° 4946/2021 de 4 de marzo de 2021 se prorroga hasta el 31 de diciembre de 2021, el plazo para la celebración de asambleas y reuniones a distancia de los órganos colegiados de las sociedades anónimas utilizando medios telemáticos. Este Decreto prorroga el plazo original, establecido en el Art. 5 del Decreto 3605/2020, el cual venció el pasado 31 de diciembre de 2020. 

Para mayor información con relación a esta noticia u otros temas societarios, por favor póngase en contacto con Perla Alderete (palderete@vouga.com.py), Walter D. Vera (wvera@vouga.com.py) o Ana B. Vera (abvera@vouga.com.py

Vouga Abogados advises J.P. Morgan Securities LLC and Santander Investment Securities INC in the framework of the first sustainable bond issue by a Paraguayan issuer

Vouga Abogados acted as special legal advisor in Paraguay to J.P. Morgan Securities LLC and Santander Investment Securities INC, as initial purchasers, in Banco Continental SAECA’s offering of US$300 million 2,750% senior notes due in 2025. Banco Continental S.A.E.C.A.offering of US$300 million 2,750% senior notes due in 2025.
The issuance was conducted pursuant to Rule 144A and Regulation S of the Securities and Exchange Act of the United States. These are the first notes issued by a Paraguayan company that are qualified as “sustentables” .

The firm performed an extensive due diligence on the issuer's operations and reviewed the transaction documentation on matters related to local law.

For more information regarding this transaction or other issues related to Banking & Finance, please contact Carlos Vouga (cvouga@vouga.com.py), Cynthia Fatecha (cfatecha@vouga.com.py) or Georg Birbaumer (gbirbaumer@vouga.com.py) who participated in this transaction.

VOUGA ABOGADOS rankeado como Estudio TIER 1 y ACTIVE por IFLR1000

El prestigioso directorio International Financial Law Review (IFLR) publicó la 31ª edición del ranking IFLR1000 en el cual VOUGA ABOGADOS se destaca, una vez más, como firma TIER 1 en el área de “Financial and Corporate” y Active  en “Project Development”. De este modo, VOUGA ABOGADOS se posiciona como uno de los tres únicos estudios jurídicos paraguayos rankeados en todas áreas de análisis de nuestro mercado.

Además, queremos destacar que la nuestra es la firma paraguaya con el mayor número rankings individuales en éste directorio, con un total de 8 abogados rankeados.

Felicitamos a nuestros profesionales por su compromiso con la excelencia y agradecemos a nuestros clientes por la confianza depositada en nosotros.

Para más información sobre el ranking, haga click en el siguiente enlace:

Vouga Abogados – Paraguay – Firm Profile | IFLR1000

Leaving behind the disposable culture and recovering what is reusable

The global production of plastics has skyrocketed in the last 50 years, and especially in the last decades, according to data published by the Greenpeace organization. The publication mentions that in the last ten years we have produced more plastic than in the entire history of mankind. According to a report by the United Nations, it is estimated that around 5 trillion plastic bags are consumed worldwide every year, which is equivalent to almost 10 million bags per minute.

Governments around the world are becoming increasingly aware of the magnitude of plastic pollution. So far, more than 60 countries have enacted official measures and dozens more are working on regulations and strategies to tackle one of the biggest environmental problems of our time, according to a report published by UN Environment. Fortunately, Paraguay is no exception.

Desde el 1° de julio de 2021 se busca implementar la tan esperada, y varias veces postergada, Ley 5414/2015 “de Promoción de la Disminución del Uso de Plástico Polietileno” (la “Ley”), con  su Decreto Reglamentario 5537/2016 (el “Decreto”), que buscan regular el consumo de bolsas de polietileno de un solo uso, entregadas por supermercados, autoservicios, almacenes y comercios en general para el transporte de productos o mercaderías, las cuales deberán ser progresivamente reemplazadas por otras reutilizadas o confeccionadas con materiales biodegradables alternativos no contaminantes y reutilizables.

The enforcement authority is the Ministry of Industry and Commerce (MIC), in coordination with the municipalities.

The Law establishes that the use of single-use polyethylene bags must be gradually replaced by reusable bags or bags made of non-polluting and reusable alternative biodegradable materials within twelve months, in the retail sector in markets, supermarkets and stores with predominance of food and beverage products, and twenty-four months for all other establishments, including wholesale establishments. Subsequently, by Res. 353/2017, a gradual replacement schedule for single-use polyethylene bags was established, ranging from September 1, 2018 to September 1, 2023, establishing that, in September 2019, single-use polyethylene bags should no longer be marketed. This Resolution was then amended by Res. 453/2019 which established a new schedule running from May 1, 2019 to February 1, 2024, establishing that, as of February 1, 2020, single-use polyethylene bags should no longer be marketed.

However, by decree 3920/2020 and then by law 6636/2020, stores in general have been authorized to use polyethylene bags and other "conventional" plastic material while the pandemic emergency law 6524/2020 is in force, in accordance with the exception provided for in art. 9 of the Law, applicable when it is necessary to use polyethylene bags or other conventional plastic material for food safety or sanitary issues.

Recently, by means of CIRCULAR SSECS No. 01/2021 (the “Circular”), the MIC established that as from November 1, 2021 all businesses must have reusable bags (made of virgin material or material with high recycled content) The same Circular also provides for an adjustment and transition process from July 1 to October 31, 2021 so that all companies producing reusable bags can obtain the necessary certification before the INTN in order to meet the demand they will have from businesses.

Another obligation imposed by the Law is that the obligated parties must display at least the following legend on the cash registers: "LET'S TAKE CARE OF THE ENVIRONMENT, REDUCE - REUSE - RECYCLE PLASTIC BAGS. WHEN SHOPPING, TAKE YOUR REUSABLE BAG WITH YOU".

Res. 353/2017 establishes the minimum prices that stores must charge for single-use polyethylene bags used for the transportation of goods in order to encourage consumers to carry their own reusable bags or cardboard boxes or any container to avoid as much as possible the use of plastic bags.

The General Directorate of Internal Commerce of the MIC will be in charge of controlling stores comply with the regulation.

Failure to comply with the Law and its regulations may result in fines from 10 to 500 minimum daily wages, requiring prior administrative proceedings before the General Directorate of Legal Affairs of the MIC.

The law determines that the products regulated by the law must be certified by the National Institute of Technology, Standardization and Metrology (INTN), which will verify that the components and materials used in the manufacture of bags comply with the established criteria of non-polluting alternative biodegradability. So far, by Res. MIC 178/2021, the mandatory certification of reusable polyethylene plastic bags and reusable plastic bags with high recycled content has been established. This certification is carried out in accordance with the Conformity Assessment Regulation (Annex 1 of Resolution 178/2021).

Resolution 353/2017 also creates the Register of Manufacturers and Importers of plastic bags (polyethylene, polypropylene, and other thermoplastics) and biodegradable bags (paper, biodegradable plastic) that will be managed by the General Directorate of Domestic Trade of the MIC. Interested parties must submit the registration applications by completing Annex II (Natural Person) or Annex III (Legal Entity), which are part of said resolution. It also establishes that the National Customs Directorate (DNA) will only grant import permits for plastic bags and biodegradable bags that have a previous import license issued by the MIC, the requirements of which are detailed in the same resolution.

Many call this Law “Antihule” or “Antiplastics”, when, in fact, the law does not prohibit the use of plastics or polyethylene plastic bags in general, but requires that single-use plastic bags are no longer marketed by businesses and determines that those offered and used for the transport of goods are certified by INTN and are thicker to be reusable. In other words, the spirit of the Law is rather that consumers reuse their plastic bags or use biodegradable bags, so that, at least for now, plastic bags will continue to be available at the cash registers of stores, but with an additional cost for the consumer. It is important to point out that this law does not cover garbage bags. We can also say that it is perhaps a first step towards what other countries have achieved: the reduction or even prohibition of the use of plastic bags for the transportation of goods.

The reduction and improvement of the use of plastics is a global trend that is being implemented for several years in many countries around the world, but coincidentally many of them have chosen 2021 as the year of #plasticfree, with numerous campaigns of millions of public and private organizations betting on raising awareness not only governmental, but also of consumers for a world with less plastic. The main campaigns in July are #juliosinplastico, plastic free july - challenge, among others.

In Chile, for example, since July of this year, single-use plastics -such as cutlery, stirrers, straws, plumavit articles, containers and cups, among others- have been prohibited in all prepared food outlets, whether for consumption inside the premises or for delivery. Failure to comply with this rule results in fines for the benefit of the municipality.

Another example is Spain, where, in addition to measures taken years ago such as charging for bags in supermarkets and other businesses, there is now a draft Law on Waste and Contaminated Soil that for the first time limits the use of single-use plastics in certain areas, such as food, and incorporates restrictions on their sale. One of the key measures of this bill is a tax of €0.45 per kilogram on non-reusable plastic packaging. Since July 3, 2021, the introduction of a number of products on the market is prohibited: cotton swabs, allowed only in the sanitary area, cutlery, plates, straws and beverage stirrers, except those with industrial or professional uses.

Mexico City started 2021 with the ban on single-use plastics, therefore, as of January 1, 2021 "the commercialization, distribution and delivery of single-use plastic products is prohibited", according to the published rule. So far, 28 states have approved and published laws related to plastics, and there are 183 bills in Congress to ban, replace or reduce the consumption of plastics in Mexico.

Costa Rica, one of the world's leading examples in this area, has a mission to ban all single-use plastics by 2021. The country's ultimate goal is to become a carbon neutral nation by 2050. Other countries such as the United Kingdom and the Netherlands have also set 2050 as the target to bring their net carbon emissions to zero. Germany, for its part, aims to eliminate the use of coal by 2038 at the latest and, in the meantime, continues to invest in renewable energies.

At the European Union level, an EU directive EU 2019/904 was adopted in Brussels in 2019, which aims to ban the sale of single-use plastic products in all EU member countries. The deadline for member countries to adapt their legislation to this new directive has been set for July 3, 2021. This directive affects products made of plastic that are disposable or disposable. This is the case of: swabs, plastic bags, straws, disposable plates, cups and cutlery, food containers or packaging.

If plastic bag bans are properly planned and enforced, they can effectively counteract one of the causes of excess and misuse of plastics. However, solving the problem at its roots requires changes in the habits of consumers, retailers and manufacturers, and the adoption of sound policies that promote a more circular model of plastics design and production.

In the meantime, all of us as consumers have a key role in the correct application of this new law and as a first step we could join the #JulyWithoutPlastic challenge that is going around the world and that was promoted in Paraguay by @paraguaysinbasura. The World Wide Fund For Nature (WWF) determined that the average use of a plastic bag is 15 minutes while it takes many years to degrade.

Deadline for holding assemblies by telematic means is extended

Por medio del Decreto N° 4946/2021 de 4 de marzo de 2021 se prorroga hasta el 31 de diciembre de 2021, el plazo para la celebración de asambleas y reuniones a distancia de los órganos colegiados de las sociedades anónimas utilizando medios telemáticos. Este Decreto prorroga el plazo original, establecido en el Art. 5 del Decreto 3605/2020, el cual venció el pasado 31 de diciembre de 2020. 

Para mayor información con relación a esta noticia u otros temas societarios, por favor póngase en contacto con Perla Alderete (palderete@vouga.com.py), Walter D. Vera (wvera@vouga.com.py) o Ana B. Vera (abvera@vouga.com.py

Vouga Abogados advises shareholders of Cadena Farmacenter on the sale of majority shareholding to Grupo Cartes

On December 15, 2020, two shareholders of Cadena Farmacenter S.A. transferred part of their shares to Grupo Cartes, after which the latter acquired majority control of the company, owner of one of the leading drugstore chains in the Paraguayan market for almost 4 decades, with more than 100 branches throughout the country and more than 1100 employees. These figures allow us to state that this is one of the most relevant M&A transactions in recent years in Paraguay.

During the negotiation process, the Sellers were constantly advised by the Vouga Abogados team from the very beginning of the negotiations. The process covered all aspects of the transaction, including the due diligence, the preparation, review and negotiation of the different transactional contracts, all of this together with the Alpax Paraguay team, the Sellers' financial advisors.

In accordance with the agreements signed with Grupo Cartes, the Sellers continue to be linked to the Farmacenter S.A. chain, which will allow them to contribute their successful experience, which is key during the transition process. Both groups are confident that the change will strengthen the growth plans of the Farmacenter chain.

If you would like to learn more about our Mergers and Acquisitions practice, please feel free to contact Rodolfo G. Vouga Z. (rgvouga@vouga.com.py), Perla Alderete (palderete@vouga.com.py) or Rodrigo Fernandez (rfernandez@vouga.com.py).