Chapter IX · Mergers of companies · Section I · Domestic mergers

Article 97 Definition and forms of merger

Artigo 97.º · Noção – Modalidades

Código das Sociedades Comerciais · Decree-Law No. 262/86 · consolidated text checked 26 October 2026

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1. Two or more companies, even of different forms, may merge by combining into one company.

1 - Duas ou mais sociedades, ainda que de tipo diverso, podem fundir-se mediante a sua reunião numa só.

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2. Without prejudice to Article 117-A(4)(b), dissolved companies may merge with other companies, whether dissolved or not, even where liquidation is being conducted judicially, if they satisfy the conditions for resuming their business.

2 - Sem prejuízo do disposto na alínea b) do n.º 4 do artigo 117.º-A, as sociedades dissolvidas podem fundir-se com outras sociedades, dissolvidas ou não, ainda que a liquidação seja feita judicialmente, se preencherem os requisitos de que depende o regresso ao exercício da atividade social.

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3. A company may not merge from the date of its petition to enter insolvency or of an application for it to be declared insolvent.

3 - Não é permitido a uma sociedade fundir-se a partir da data da petição de apresentação à insolvência ou do pedido de declaração desta.

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4. A merger may take place:

4 - A fusão pode realizar-se:

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a) By the transfer of all the assets and liabilities of one or more companies to another company and the allotment to their members of partnership interests, shares or quota interests in the latter;

a) Mediante a transferência global do património de uma ou mais sociedades para outra e a atribuição aos sócios daquelas de partes, acções ou quotas desta;

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b) By the formation of a new company to which all the assets and liabilities of the merging companies are transferred, their members being allotted partnership interests, shares or quota interests in the new company.

b) Mediante a constituição de uma nova sociedade, para a qual se transferem globalmente os patrimónios das sociedades fundidas, sendo aos sócios destas atribuídas partes, acções ou quotas da nova sociedade.

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5. In addition to the partnership interests, shares or quota interests in the acquiring or new company referred to in the preceding paragraph, members of the company being acquired or of the merging companies may be allotted cash amounts not exceeding 10% of the nominal value of the interests allotted to them.

5 - Além das partes, acções ou quotas da sociedade incorporante ou da nova sociedade referidas no número anterior, podem ser atribuídas aos sócios da sociedade incorporada ou das sociedades fundidas quantias em dinheiro que não excedam 10/prct. do valor nominal das participações que lhes forem atribuídas.

What we checked in this article

Dissolved companies and insolvency restrictions remain; both universal-transfer forms and the 10% nominal-value cash limit are retained.

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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.

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