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Spanish to English translations [PRO] Bus/Financial - Law: Contract(s)
Spanish term or phrase:participaciones (IN THIS CONTEXT - MEXICAN)
This occurs in an item in the minutes of a Board meeting of a Mexican company, reporting on the sale of shares between two partners, that was agreed on during the meeting:
"Consecuentemente los VENDEDORES, se dan por recibido del precio pactado, mismo que se efectúo a valor nominal y se obligan a extender los endosos correspondientes, estableciendo el mas amplio finiquito a la sociedad, en virtud de señalar bajo protesto de decir la verdad que no existe ningún adeudo o pago pendiente por concepto de dividendos o ***participaciones***."
(Talk about convoluted grammar!)
What exactly is "participaciones" referring to here? From the context it can't just be the voting rights or shares themsleves, since it refers to these "participaciones" as being related to "adeudo o pago"...
Furthermore, "shares" in the context of an "S.A. de C.V." are always "acciones" (I even have such a document before me at this moment); "participaciones" can be "partnership shares" relating to certain partnerships, but not here.
Shares in an "S.A. de C.V." can have variable values like any shares; these are being sold at par. But the distinguising feature of an "S.A. de C.V." is that it can have variable stock; that is it may be increased and decreased above a fixed minimum.
IMHO, the fact that the shares in an "S.A. de C.V." have variable values does not affect the operation in question. The sellers are merely signing a RECEIPT in full, under oath, as the company paid them the agreed price at nominal value.