HSBC To Buy Costa Rica Minority Shareholders Interests
Under the terms of the offer, the maximum consideration to be paid for the acquisition of a total of 1,112,672,425 common shares (2.75%) will be $6,938,405.
Friday, March 6, 2009
Grupo del Istmo Costa Rica S.A. (Grupo Istmo), an indirectly owned subsidiary of HSBC Bank (Panama), is launching a public tender offer to acquire the interests of the minority shareholders of Corporación HSBC (Costa Rica) Sociedad Anónima, ('Corporación HSBC').
Once the new law comes into effect minority investors will have access to information on transactions that represent at least 10% of a company's assets.
Shares in the brewery company Florida Ice and Farm have risen 20% in a week.
The pharmaceutical group Socofar acquired 50% of the Costa Rican operation Cefa Corporation.
A bill aims to give more legal guarantees for investors holding less than 20% of shares in companies.
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