PPU Legal Informs
Recent News
Chile
Venture capital on the rise In recent years, private and public organisations in Latin America have taken proactive steps to foster innovation and entrepreneurship, with a growing number of initiatives aimed at cultivating and expanding the venture capital (VC) ecosystem. Among these, Chile has emerged as a standout leader, experiencing significant growth in terms of startups in the country and attracting substantial VC investment. This growth can be attributed to a combination of strategic initiatives, supportive government policies and proactive collaboration within the financial and regulatory sectors. In the coming months, Chile is preparing for an exciting chapter in its
Colombia
A Canadian energy company has won an award in a Bogotá arbitration against a local gas distributor over the expansion of a pipeline on Colombia‘s Caribbean coast. As reported by Colombian media, a tribunal at the Arbitration and Conciliation Centre of the Chamber of Commerce of Bogotá (CCA-CCB) issued an award on 21 August ordering local gas transporter Promigas to pay US$14 million to a subsidiary of Toronto-listed Canacol Energy. The tribunal ordered Promigas to reimburse 36.7 billion Colombian pesos (US$8.9 million) in additional fees that Canacol had paid under the contract. It also granted 21.7 billion pesos (US$5.3 million) in interest.
Peru
Bolivian investor ASAI Capital has called on several firms to acquire Peruvian consumer goods company Alicorp’s oil milling businesses in Bolivia, Peru and Uruguay. The buyer relied on three Baker McKenzie offices, Bolivia’s PPO Abogados, Philippi Prietocarrizosa Ferrero DU & Uría (Peru) and Posadas in Montevideo. Alicorp called on White & Case LLP in New York, Bolivian firm Dentons Guevara & Gutierrez, Garrigues (Peru) and Uruguay’s Guyer & Regules. The deal was signed on 18 July. No value has been disclosed. In the transaction, ASAI bought three oil milling companies from Alicorp: Industrias de Aceite in Bolivia, R Trading in
Press
Chile
Venture capital on the rise In recent years, private and public organisations in Latin America have taken proactive steps to foster innovation and entrepreneurship, with a growing number of initiatives aimed at cultivating and expanding the venture capital (VC) ecosystem. Among these, Chile has emerged as a standout leader, experiencing significant growth in terms of startups in the country and attracting substantial VC investment. This growth can be attributed to a combination of strategic initiatives, supportive government policies and proactive collaboration within the financial and regulatory sectors. In the coming months, Chile is preparing for an exciting chapter in its
Colombia
A Canadian energy company has won an award in a Bogotá arbitration against a local gas distributor over the expansion of a pipeline on Colombia‘s Caribbean coast. As reported by Colombian media, a tribunal at the Arbitration and Conciliation Centre of the Chamber of Commerce of Bogotá (CCA-CCB) issued an award on 21 August ordering local gas transporter Promigas to pay US$14 million to a subsidiary of Toronto-listed Canacol Energy. The tribunal ordered Promigas to reimburse 36.7 billion Colombian pesos (US$8.9 million) in additional fees that Canacol had paid under the contract. It also granted 21.7 billion pesos (US$5.3 million) in interest.
Peru
Bolivian investor ASAI Capital has called on several firms to acquire Peruvian consumer goods company Alicorp’s oil milling businesses in Bolivia, Peru and Uruguay. The buyer relied on three Baker McKenzie offices, Bolivia’s PPO Abogados, Philippi Prietocarrizosa Ferrero DU & Uría (Peru) and Posadas in Montevideo. Alicorp called on White & Case LLP in New York, Bolivian firm Dentons Guevara & Gutierrez, Garrigues (Peru) and Uruguay’s Guyer & Regules. The deal was signed on 18 July. No value has been disclosed. In the transaction, ASAI bought three oil milling companies from Alicorp: Industrias de Aceite in Bolivia, R Trading in
Newsflash
Chile
I. STATUS AND ENTRY INTO FORCE 1.1. On December 19, 2023, the U.S. Department of Treasury announced the entry into force of the tax treaty between the United States and Chile, with the notification from the former to the latter that it had satisfied its applicable procedures for bringing the treaty into force. 1.2. Therefore, a) With respect to withholding taxes, the treaty will apply for all amounts paid or credited on or after February 1, 2024. b) With respect to other taxes, the treaty shall apply for taxable periods beginning on or after January 1, 2024. II. ELIMINATION OF
Peru
Philippi Prietocarrizosa Ferrero DU & Uría Peru has counselled Paris-based private equity investment house Ardian and AgrAm on the direct acquisition of the Peruvian business of Latin America Power Holding, which includes the indirect transfer of 100% of Latin America Power Peru and its subsidiaries HSC Holding, Empresa de Generación Eléctrica Junín and LAP Servicios. Accordingly, the transaction, entered into on 28 April and closed on 14 December 2023, involved the jurisdictions of Peru and the Netherlands. Estudio Miranda & Amado and Loyens & Loeff advised the sellers, former shareholders of the acquired companies, locally and in the Netherlands, respectively;
