Regulatory Alerts2008-11-19 | CD-SIBOIF-561-1-NOV19-2008Added · Updated
Norm on Public Acquisition Offer
The Superintendence of Banks and Other Financial Institutions establishes regulations for public acquisition offers (OPA), requiring mandatory offers when an acquirer seeks to reach a significant participation of 25% or more of voting capital. The rule defines significant participation thresholds, specifies excluded scenarios such as internal group redistributions, and mandates that the offer consideration be paid in cash or shares with appropriate guarantees. It further outlines the minimum information requirements for the offer prospectus, the authorization procedure subject to a ten-day review period, and the obligations for publication and shareholder communication.
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