ECUADOR Law and Practice Contributed by: María Celeste Alvarado, Jorge Sicouret Zea, Ángel Gaibor and Octavio Rosselli, Coronel & Pérez
11. Activism 11.1 Shareholder Activism
10.2 Stage of Deal Most disputes related to mergers, acquisitions and share purchase transactions are handled through confidential arbitration. Therefore, it is not possible to define the stage in which litiga -
Shareholder activism is not common, as the great majority of companies are not listed and, in most cases, are owned by close-knit economic groups. In Ecuador, activism is primarily focused on environmental and social matters in strategic sectors, rather than in M&A transactions. 11.2 Aims of Activists There have been no cases of activists seeking to encourage companies to enter M&A transac - tions, spin-offs or major divestitures in Ecuador. 11.3 Interference With Completion There have been no cases of activists seeking to interfere with the completion of announced transactions in Ecuador.
tion is most commonly brought. 10.3 “Broken-Deal” Disputes
Since most disputes related to mergers, acquisi - tions and share purchase transactions are han - dled through confidential arbitration, it is not possible to identify any lessons learned from disputes between parties with pending transac - tions.
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