Where an acquiring company holding quota interests or shares representing at least 90% of the capital of the companies being acquired carries out a cross-border merger by acquisition, expert reports and the documents required for scrutiny are always required, even where the law governing the acquiring company or acquiring companies with their registered office in another State waives those requirements in acquisitions with a view to full control.
Nos casos em que a sociedade incorporante que disponha de quotas ou acções correspondentes a, pelo menos, 90 % do capital das sociedades incorporadas realizar uma fusão transfronteiriça por aquisição, os relatórios de peritos bem como os documentos necessários para a fiscalização são sempre exigidos mesmo nos casos em que a legislação que regula a sociedade incorporante ou as sociedades incorporantes com sede noutro Estado dispensem esses requisitos nas aquisições tendentes ao domínio total.
The at-least-90% cross-border rule still requires experts/documents; the source's repeated acquiring-company role wording is preserved and flagged.
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Unofficial English translation prepared by BCA Portugal for reference. Only the Portuguese text published in the Diário da República has legal force. Editorial notes are ours and are not part of the statute.