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MMG Tower, 23rd Floor Ave. Paseo del Mar, Costa del Este Panama City Rep. of Panama

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Morgan & Morgan advises Jazz Air in US$15 million acquisition of Pluna Airlines

Saturday, 01 May 2010 / Published in Mergers & Acquisitios, Ramon Varela, Roberto Vidal

Morgan & Morgan advises Jazz Air in US$15 million acquisition of Pluna Airlines

Morgan & Morgan acted as Panamanian counsel to Canadian airline Jazz Air LP in a US$15 million investment. Jazz Air LP acquired an interest in Uruguay’s national airline Pluna, through the subscription of shares of the Panamanian Holding Company of Pluna Líneas Aéreas Uruguayas, S.A.

“Although the transaction documents were subject to Uruguayan law, two of the companies involved were Panamanian corporations, and thus Panamanian corporate law issues played an important part in the transaction”, says Ramon Varela, senior associate at Morgan & Morgan, who in collaboration with associate Roberto Vidal lead the legal counsel required to carry on the transaction.

Morgan & Morgan actuó como asesor panameño de la aerolínea canadiense Jazz Air LP en una inversión por US$15 millones. Jazz Air LP adquirió una participación en la aerolínea nacional uruguaya Pluna, mediante la suscripción de acciones de la sociedad tenedora panameña de Pluna Líneas Aéreas Uruguayas, S.A.

“Aunque los documentos de la transacción estaban sujetos a la ley uruguaya, dos de las compañías involucradas eran panameñas y por tanto, la ley de Sociedades panameña jugaba un papel importante en la transacción” comentó Ramón Varela, asociado senior de Morgan & Morgan, quien en colaboración con el asociado Roberto Vidal, lideró el equipo legal necesario para llevar a cabo dicha transacción.

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