Market: Uruguay

Equifax acquires Clearing the Informes

Ferrere Lamaison advised Equifax Inc in its recent purchase of Clearing the Informes, Uruguay's leading provider of consumer credit information to businesses.

29 June 2001

State refinery seeks JV partner

At the end of May Uruguay’s state-owned oil refinery, the Administración Nacional de Combustibles Alcohol y Portland (ANCAP), formally invited oil companies to express their interest in a potential joint venture.

15 June 2001

Bond issue offered by Uruguayan government

Guyer & Regules and Shearman & Sterling advised the underwriter in the May 2, 2001 issue of a US$-125 million bond by the República Oriental del Uruguay (the Uruguayan state).

08 June 2001

Ferrere Lamaison counsels on setting-up of investment fund

Ferrere Lamaison was chosen by ABN AMRO to act as counsel in the setting-up of an investment fund based on loans granted by the Banco Hipotecario del Uruguay (BHU).

01 June 2001

Uruguay's new competition regulations

Under new Uruguayan antitrust legislation, there are no pre- or post-merger notification requirements, and no duty to notify.

01 June 2001

Merger mania hits Uruguayan pension funds

Capital Afap SA and Unión Afap SA, two leading players in Uruguay's pensions market, have announced their impending merger. It is the first ever deal between Uruguayan pension fund administrators.

25 May 2001

IRS certifies Uruguay over KYC

The US Internal Revenue Service has announced that it has designated Uruguay a "qualified or eligible jurisdiction" in connection with the ‘know your customer’ (KYC) practices followed by local banks.

23 March 2001

Free competition for Uruguay's telecoms market

Uruguay has passed a new law abolishing the state monopoly over telecommunications services and creating a watchdog for the telecoms sector.

02 March 2001

New Uruguayan antitrust regulation is expected to be approved by the Executive

The Parliament has passed a Budget Bill (‘the Bill’), yet to be approved by the Executive, which widens the antitrust provisions of Act No. 17,243 which the Uruguayan Parliament passed on June 29, 2000, and which included a brief antitrust provision (recently published on Latin Lawyer’s website).

09 February 2001

Modification of legal regime governing cable television services to enable foreigners to become licensees.

On December 29 2000, by Executive Order No. 400/00, which was published in the Official Gazette on January 8 2001, the Uruguayan Government changed the legal regime regarding the requirements for becoming a licensee for the provision of cable television services.

08 January 2001

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