DOMINICAN REPUBLIC Law and Practice Contributed by: Marielle Garrigó, Urania Paulino, Eduardo Pellerano and Ricardo Pellerano Nadal, Pellerano Nadal Law & Consulting
10. Jurisdiction-Specific Features 10.1 Other Acquisition Finance Issues Sections 1. Market to 9. Takeover Finance contain a comprehensive guide to acquisition finance in the Dominican Republic.
9.2 Listed Targets In the Dominican Republic, the acquisition of a publicly traded company can only be made via a public tender offer, whenever the buyer intends to acquire or become the direct or indirect ben- eficial owner of 30% or more of the company’s stock, with voting rights. The terms for the public tender offer, as well as beneficial owner, are regulated by Law No 249– 17 and Regulation No R-CNMV-20l9-24-MV. The above-mentioned acquisitions must first obtain prior authorisation from the Superintend- ency of Securities. Some exceptions may apply, such as when the total acquisition of the com- pany has been negotiated with all of the stock- holders of a listed company.
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