Morgan & Morgan represents Sojitz Corporation on the acquisition of Petroautos in Panama
Morgan & Morgan has counseled Sojitz Corporation in its acquisition of 100% of the shares of Petroautos, the exclusive distributor of Hyundai vehicles in Panama. With a track record of more than three decades, Petroautos is a well-established player in the country’s automotive industry, operating a network of nine dealerships nationwide and offering a full range of services—from vehicle importation and sales to after-sales support and spare parts.
This acquisition represents a tactical move for Sojitz Corporation, a Japanese conglomerate with over 50 years of experience in automotive distribution in more than 50 countries. In Panama, Sojitz already has a strong foothold in the automotive market through its subsidiary Sílaba Motors, which distributes brands including KIA, MAZDA, OMODA, JAECOO, KARRY, and NIU.
Morgan & Morgan’s team was led by partners Inocencio Galindo (pictured left)and Roberto Vidal (pictured right), alongside international associate Miguel Arias. Tax advisory was provided by José Rafael Reyes, partner in the firm’s tax practice.
In addition to advising on the transaction, Morgan & Morgan conducted an extensive legal due diligence review of Petroautos and its operations. This transaction was also led by Galindo, Vidal, and Arias, with additional support from partner Milagros Caballeros, senior associate Allen Candanedo, and associates Arantxa Fernández, Ariana Linares, Katia Pallares, and David Ramos.
