Corporate Acquisitions and Mergers in Portugal

Name: Corporate Acquisitions and Mergers in Portugal
Brand: Kluwer Law International
Price: 64.99 EUR
Availability: OnlineOnly

Margarida Torres Gama(Autor*in)

Kluwer Law International (Verlag)

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Erschienen am 20. Dezember 2020

104 Seiten

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978-94-035-3154-0 (ISBN)

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Inhalt

Intro
Half-Title Page
Title Page
Copyright Page
Table of Contents
Morais Leitão, Galvão Teles, Soares da Silva & Associados - Sociedade de Advogados, SP, RL
1 LOCAL ECONOMIC, POLITICAL AND CULTURAL ASPECTS
1.1 Country Profile
1.2 Governmental, Political and Legal System
1.3 Current Economic Aspects
1.4 Main Industries
1.5 Cultural Aspects
2 THE REGULATORY FRAMEWORK
2.1 Business Vehicles
2.1.1 Private Limited Liability Companies by Quotas
2.1.2 Limited Liability Companies by Shares
2.1.3 Parent Company Liability
2.1.4 Formalities
2.2 Laws Affecting M&A
2.3 Relevant Regulatory Authorities
2.3.1 AdC
2.3.2 CMVM
2.3.3 BdP
2.3.4 ASF
2.3.5 ERC
2.4 Controls/Restrictions on Foreign Investment
2.4.1 Defence
2.4.2 Banking and Financial Services
2.4.3 Communications
2.4.4 Construction/Planning
2.4.5 Other Sectors
2.5 Incentives for Foreign Investment
2.5.1 Incentives/Free Trade Zone
2.5.2 Nationalisation and Expropriation
2.5.3 Financing Options
2.5.4 Entry and Exit of Capital/Foreign Bank Accounts
2.6 Specific Issues of Company/Securities Law
2.6.1 Levels of Approval
2.6.2 Form of Consideration
2.6.3 Security
2.6.4 Purchase of Own Shares
2.6.5 Completion Formalities
2.6.6 Costs and Fees
2.6.7 Insolvency
2.6.8 Choice of Law
2.7 Specific Rules on Public Takeovers
2.7.1 Public Companies and Public Offers
2.7.2 Stakebuilding
2.7.3 Break Fees
2.7.4 Price
2.7.5 Duties of the Target Company and Its Board of Directors
2.7.6 Types of Takeovers
2.7.7 Offer Period
2.7.8 Squeeze-Out and Sell-Out Rights
2.7.9 Administrative Offences
2.8 Other Relevant Laws and Due Diligence Issues
2.8.1 Anti-bribery/Anti-corruption/AML
2.8.2 Environmental/Product Safety
2.8.3 Intellectual Property
2.8.4 Distribution Agreements
2.8.5 Valuation
2.8.6 Change of Control Clauses
2.9 The Due Diligence Process
2.10 Role of the Courts
3 MERGER CONTROLS: ANTITRUST/COMPETITION ISSUES
3.1 Relevant Legislation and Competent Authorities
3.1.1 Merger Control in Portugal
3.1.2 Merger Notification
3.2 Merger Control Process
3.2.1 Competition Assessment of the Concentration
3.2.2 Ancillary Restraints
3.2.3 Competition Act Reform
3.3 Anti-competitive Restraints Applicable to Employees and Directors
3.3.1 Non-competitive Clauses in Employment Agreements
3.3.2 Restrictions on Competitive Activities by Directors
4 TAXATION ASPECTS
4.1 Nature of the Tax Regime
4.2 Liability to Tax
4.2.1 Residents
4.2.2 Non-residents
4.2.3 Value Added Tax or Sales Taxes or Other Taxes on Revenue/Sales
4.2.4 Stamp Duties or Other Taxes on Land Transactions
4.2.5 Business Rates
4.2.6 Taxes Imposed on Employers (e.g., PAYE and Social Security Obligations)
4.2.7 Customs and Excise Duties
4.2.8 Incentives by Way of Capital Allowances or Other Deductions in Respect of Capital Expenditure
4.3 Tax Consolidation: Group Relief of Gains and Losses
4.3.1 Scope for the Use of Gains or Losses of the Target Company Elsewhere Within the Purchaser's Group
4.3.2 CFC Rules
4.4 Tax Considerations Arising on M&A Transactions
4.4.1 Sale of Shares (for Cash, Shares or Other Securities)
4.4.2 Sale of Assets (for Cash, Shares or Other Securities)
4.4.3 Negotiability of the Price/Independent Assessment
4.4.4 Tax Reliefs, Exemptions or Deferrals Available for Particular Types of Amalgamation or Reorganisation: Tax Clearances from the Relevant Tax Authorities
4.4.5 Unused Tax Losses in the Target Company/Restrictions on the Carry Forward of Losses
4.4.6 Deferred Payments
4.4.7 Deductibility of Acquisition Expenses as a Business Expense
4.5 Structuring the Investment
4.6 Withholding Taxes
4.6.1 Dividends Paid to Foreign Individual Shareholders
4.6.2 Dividends Received from Foreign Subsidiaries/Affiliates
4.6.3 Interest Paid to Foreign Corporate/Group Shareholders or Affiliates
4.6.4 Interest Received from Foreign Corporate/Group Shareholders or Affiliates
4.6.5 IP Royalties Paid to Foreign Corporate/Group Shareholders or Affiliates
4.6.6 IP Royalties Received from Foreign Corporate/Group Shareholders or Affiliates
4.6.7 Management or Consultancy Fees Paid to Foreign Corporate/Group Shareholders or Affiliates
4.6.8 Payments to Non-residents in Respect of the Purchase or Renting of Immovable Property
4.6.9 Double Tax Treaties Affecting the Payment of Withholding Taxes and the Main Requirements for Obtaining Relief from the Obligation to Withhold under these Treaties
4.7 Debt Financing
4.8 Thin Capitalisation
4.9 Transfer Pricing
5 EMPLOYMENT CONSIDERATIONS
5.1 Legislative Framework
5.2 Employment Protection
5.3 Pensions
5.4 Retention of Key Management and Employees
5.5 Treatment of Foreign Employees
5.5.1 Directors' Liability
6 FUTURE DEVELOPMENTS

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