Assa Acquires Metropolitan Insurance Company

ASSA Group acquired 98.7% of stock of Metropolitan Insurance Company.

Friday, January 21, 2011


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Eduardo Fabregas, Vice President of ASSA Insurance Company of Panama, told media: "With this acquisition, we will provide a serious and responsible service to our clients and brokers, also Metropolitan ASSA will have more resources at their disposal, offering a regional service to clients who do business outside of Nicaragua."

The Executive added that some of the goals are to introduce in the Nicaraguan market new products which are commercially available today in Panama.

More on this topic

Walmex Concludes Purchase of Walmart Central America

February 2010

Walmart México (Walmex) concluded the purchase of Walmart Central America with a $110 million cash payment.

Walmex also issued 603.9 million shares, which were traded to the former owners of Walmart Central America, who now become Walmex shareholders.

“With the merger, holding company Walmart Stores now owns 68.4% of the shares of its Mexican subsidiary and the rest is owned by minority shareholders”, reported Epa.

Bancolombia Buys 40% of a Guatemalan bank

December 2012

Grupo Bancolombia has agreed to acquire 40% of the ordinary shares of Grupo Financiero Agromercantil, with the possibility of acquiring a controlling interest in the medium term.

A statement of Grupo Bancolombia reads:

Grupo Bancolombia acquires 40% of Grupo Financiero Agromercantil of Guatemala – BAM - and strengthens its presence in Central America.

Nicaragua: Legal Challenge to Commercial Poultry Farming Merger

April 2011

The challenge seeks to reverse authorization given for the US company Cargill to take over Pipasa.

Nicaragua's institute for protecting consumer rights presented the challenge, arguing that if the merger goes ahead, the resulting company will control 61% of the Nicaraguan poultry market, enabling it to undercut its competitors and force them out of the market, after which nothing would stop it from increasing prices at will.

Suramericana Purchases Insurers in El Salvador

November 2010

Before the end of the year the company expects to close the purchase of Asesuisa y Asesuisa Vida and pension fund manager AFP Crecer.

This was informed by company CFO, Andrew Bernal, to Bnamericas.com.

"Suramericana will acquire AFP Crecer through its unit AFP Proteccion, the second largest manager of private pension funds in Colombia."

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