In Guatemala, Banco de Inversión S.A. acquired 60% of the asset portfolio of Financiera de Occidente S.A., which was suspended in December 2019.
On December 13, 2019, the Monetary Board reported that because management practices were detected that put its solvency and soundness at risk, it decided to suspend the operations of Financiera Occidente S.A., an entity that at that time represented 0.35% of the total assets of the local banking system.
Authorization has been given to Grupo Prival de Panama to complete the transaction to acquire 100% of the shares of Banco Bansol in Costa Rica.
The financial group of Panamanian origin which also now operates in El Salvador, in addition to Panama, and its incursion into Costa Rica aims to strengthen its process of regionalization. Prival sought approval from the appropriate authorities in October 2014 for the purchase of Bansol.
The business group chaired by the Panamanian Stanley Motta may be interested in acquiring units of Citi's consumer banking operations in Panama and Costa Rica.
It is not yet been revealed which of Citibank' consumer banking companies in Panama and Costa Rica they may be interested in acquiring. However, potential stakeholders include the General Bank of Panama and Grupo ASSA, which in addition to being insurers, also runs La Hipotecaria.
The transaction involves the acquisition of all of Citi's operations in the country, including commercial loans, personal loans, deposits and credit cards.
From a statement issued by Ficohsa Group:
The company has been consolidated among the 10 largest financial groups in Central America
* The transaction involves the acquisition of all of Citi's operations in Nicaragua: commercial loans, personal loans, deposits and credit cards.
The Superintendency of Banks in Guatemala has authorized Rural Bank of Guatemala to acquire the shares of the bank founded with Nicaraguan capital, ProCredit.
After Banrural submits the information and documents requested by law, the Superintendency of Banks in Guatemala (SIB) will authorize the purchase of shares of Banco ProCredit.
Citigroup has sold 75% of the shares in Administradora de Fondos de Pensiones Confía to the company Inversiones Atlántida.
Although the amount of the sale has not been released, the three institutions involved have confirmed the transaction. According to authorities at Citigroup, this operation does not affect the rest of the bank's business in El Salvador and they are just waiting for approval from the Superintendent of the Financial System in order to complete the transfer.
The Nicaraguan financial group has received approval to acquire a 55% stake in Produbanco in Ecuador.
The Superintendency of Control of Market Power in Ecuador gave its endorsement to Promerica Group, founded with Nicaraguan capital, to acquire a 55% stake of Produbanco, an entity from the South American nation.
"After the operation, Promerica Group will have $9.5 billion in total assets, since its current assets total $6.21 billion."
The contract that has been signed grants Miffin Associates, a partner of Millicom in Guatemala, the unconditional option to purchase its stake in the company.
The telecommunications company Millicom, announces the signature of an agreement to negotiate 45% of the shares of its partner in Tigo Guatemala, Miffin Associates, with a minimum term of 2 years.
With the acquisition of 50% of the stock brokerage firm Improsa Valores, Grupo Prival has ventured into the Costa Rican stock market.
The agreement signed by the parties aims to increase Improsa Valores' participation in the Costa Rican securities trading business.
From a press release issued by Improsa Valores Puesto de Bolsa:
Improsa Grupo Financiero, SA and Grupo Prival Costa Rica, SA (Prival) a Subsidiary of Grupo Prival SA (Panama), signed a purchase and sale agreement whereby Prival acquired 50% of the shares of Improsa Valores Puesto de Bolsa, SA.
Seguros Assa has sold the remaining 21% of shares held by the Profuturo Fund the largest banking institution in Panama.
Banco General "... announced that it has acquired 630 shares belonging to the Seguros ASSA Insurance Company in the pension and severance fund Profuturo ..." reported Anpanama.com.
With this move the bank will be the owner of 100% of the company Profuturo.
A ruling states that the already concentrated Honduran cement market will not be altered by the sale of shares to the Colombian company Argos.
From a press release by the Commission for the Defense and Promotion of Competition (CDPC):
The Commission for the Defense and Promotion of Competition (CDPC) as part of its advocacy of free competition within the framework of its powers and in relation to economic concentrations, was notified about a project of economic concentration in the Cement Industry, involving the economic agents Cementos Argos, S. A de C.V. (buyer) and Lafarge Cementos S.A. Unipersonal (seller).
International Hospital Corporation Holding has sold its stake in Mexican hospitals in order to explore investment opportunities in Central America.
Gary B. Wood, CEO and Chairman of the Board of International Hospital Corporation Holding said the decision was taken because they prefer to redirect resources to operations in Central America and Brazil, as well as any opportunities that may present themselves in the future.
There had been speculation that Global Bank would be sold but shareholders indicate that profits are excellent and instead of selling they are looking to buy other assets.
This was confirmed by the senior vice president of finance of the organization, Jorge Enrique Vallarino. "Shareholders have asked us to pursue acquisition opportunities in Panama, I would say you could see Global Bank acquiring a smaller competitor, instead of selling its shares," he said.
For a total of $305 million, the company from Colombia has acquired more than half of the assets of the French multinational Lafarge in Honduras.
"We have acquired facilities which have extraordinary efficiency and quality in the target region, but also under economic conditions which are attractive and have high growth potential," said Jorge Mario Velasquez, president of Argos.
The Commission to Promote Competition in Costa Rica has approved the purchase of 100% of the shares of the company Incesa by OC International Hondings.
Elfinancierocr.com publishes "The request made by OC International was presented on May 7 and once the required documentation had been submitted they proceeded to analyze the appropriateness of the transaction in the light of the provisions of the Competition Act."