Conimex and Traxpalco, two of the companies behind Uruguay’s north-south Ruta 5 motorway, have merged after three years of tax and legal negotiations with help from FERRERE.
Uruguay’s Conimex and Traxpalco first announced their decision to merge in 2011, since when the firm has helped it overcome tax and legal barriers to enable the deal to close. Carla Arellano, an associate at FERRERE and the lead lawyer on the transaction, explains the merger was conditioned on obtaining all applicable tax exemptions from the Economy and Finance Ministry. This can be a lengthy process, she adds. No value for the deal was disclosed.