Contributed By Ferrere Abogados
The primary technique for acquiring a company in Uruguay is the purchase of shares or participations in the target company. In some cases, mainly where the buyer wants to acquire only a specific line of business of the target company, wants to limit its liability or does not want to keep two separate entities after the acquisition, the acquisition of the assets or business (called commercial establishment under Uruguayan law) is also used. There is a specific procedure foreseen by the law where the purchaser of a commercial establishment can limit its liability from the liabilities of the seller. Mergers are not commonly used as they involve a lengthy, expensive and bureaucratic procedure.