On 9 January 2023, UK GVT updated guidance on UK GVT notification rules. UK GVT updated guidance for investors and businesses on the legal requirement to tell it about sensitive acquisitions / takeovers under national security and investment act (NSIA 2021). Follows UKP November 2020 issued bill on national security and investments. Updated Guidance Content…
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S Korea – FSC Shareholder Takeover Rights
On 21 December 2022, SK FSC protected investor rights in M&A share transfers. SK FSC held seminar on measures to protect general investors in case of change in management rights by stock transfer; introduced mandatory tender offer system. This system obligates a company to acquire a certain percentage of stocks through a tender offer when…
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Brazil – CB Shareholdings Held Abroad
On 25 November 2o22, BRZ CB issued provisions for equity and branches abroad. BRZ CB published Resolution 5.043 governing supervised institutions' shareholdings. Equity Held Abroad Covers filing requests with BRZ CB for equity interest or for branch installation abroad. Also, equity participation in companies headquartered in countries with tax benefits. Allows direct/indirect control via partner…
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Ireland – GVT Back Ulster Bank Takeover
On 7 November 2022, IRE GVT Minister Donohoe welcomed PTSB completion of residential mortgages and associated staff transfer under transaction with Ulster Bank in Ireland. Issued subscription shares to NatWest as partial non-cash transaction; it now holds 16.66% PTSB issued share capital/State shareholding down from 74.9% to 62.4%. Background PTSB has signed binding legal agreements…
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Mexico – DP Beneficial Owners Disclosure
On 25 October 2022, MEX DP published beneficial owner data requirements. MEX DP published agreement through which the minimum essential information on beneficial owners was approved, which will serve as criteria for its disclosure. Background In June 2018, reforms to the General Law of Commercial Companies were published. Requiring corporations and limited liability companies submit…
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Foreign Direct Investment Third Quarter Snapshot
Following up on my 2nd quarter foreign direct investment review, we’ll pick it up in Ireland which set out a new FDI screening rule like that of the UK. Get the full article
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