Regulación Económica - Jimenez Peña Abogados

Economic Regulations

Current industry challenges in the Dominican Republic

The Central Bank of the Dominican Republic affirms that there is a process of gradual recovery of the Dominican economy since the start of the COVID-19 pandemic in 2020. Likewise, the Dominican Republic is ranked in the first places in Latin America and the world in the agility in which they have managed to apply the vaccines against COVID-19 to the population. Therefore, an agile recovery of companies in the different regulated sectors in the country is expected.

Our Experience

Our firm has specialized lawyers for each of the areas of economic regulation, characterized by high-quality personalized advice. Our associates are constantly trained in the different regulated markets, maintain professional relationships with key entities in each sector and constantly interact with regulators.

Jiménez Peña has been a pioneer in transactions of great importance for each of the regulated sectors, such as the structuring of the first solar park in the Dominican Republic, the structuring of formats for the documentation required in the use and management of financial transactions and constant participation on relevant issues in the area of health during the COVID-19 pandemic, such as management of competitive processes to supply the High-Cost Medicines Program of the Ministry of Public Health and Social Assistance.

Clients

Within its client portfolio, Jiménez Peña has important national, foreign and multinational entities, participating in multiple regulated sectors. Among these we can highlight leading companies in the energy, health and telecommunications sector, multiple types of financial intermediation entities, entities participating in the stock market of the Dominican Republic and various actors in the insurance sector, such as insurance companies, reinsurers and brokers.

Relevant Cases

Jiménez Peña was a representative of the multinational company France Telecom, with the sale agreement of its Dominican subsidiary for the value of 1.4 billion dollars. The telephone company, Altice, was the acquirer of the Dominican subsidiary, Orange Dominicana, S.A. Our professionals participated in the structuring, negotiation and closing of the aforementioned sale. Today, Altice is recognized as one of the leading telecommunications companies in the Dominican Republic.
Jiménez Peña assisted Citibank with the due diligence, structuring and disbursement of a senior loan guaranteed by Estrella Energy, S.R.L. for an amount of US$125,000,000.00 to Ingeniería Estrella, S.A. and Dominicana Cöperatief, U.A., with the purpose of financing working capital. The cross-border transaction involved the granting of multiple securities under Dominican and Dutch law, including mortgages and pledges of insurance policies and shares owned by Ingeniería Estrella, as well as the pledge of certain shares owned by Dominicana Coöperatief.
Jiménez Peña carried out the due diligence for a possible investment in a 34 MW wind farm currently in operation in the municipality of Baní, province of Peravia, Dominican Republic, as well as two 50 MW wind farms and a 45 MW photovoltaic project, which are in the early stages of development. Our professionals held discussions with energy authorities regarding the potential granting of the project’s capacity expansion and perfected negotiations related to obtaining a power purchase agreement for the additional capacity.
Jiménez Peña has represented financial intermediation entities since its inception in regulatory and due diligence aspects for the acquisition of financial accounts from other financial intermediation entities. Additionally, it has collaborated in transformation processes of these entities and assistance in fundamental transactions for their development.