The Superintendence of Telecommunications, as Sectorial Competition Authority, approved the purchase by Cabletica of 100% of the operations of Telefonica de Costa Rica, which offers telephony and mobile Internet services nationwide.
Due to the economic crisis, it is expected that during 2021 the number of business alliances and company sales will increase, especially in the most damaged sectors, such as tourism, hotels, restaurants, entertainment, education and real estate.
The restrictions imposed by the governments of the region due to the covid-19 outbreak, has generated economic losses in most of the productive sectors, including reported business closures and increases in unemployment levels.
With no details regarding the amount of the transaction, Coca-Cola FEMSA announced the sale of 100% of its stock interest in the Panamanian dairy company Estrella Azul to Panama Dairy Ventures, Ltd.
The transfer of the shares became known after Coca-Cola sent a communication to the Mexican Stock Exchange, a document that specified some of the details of the transaction.
In a transaction valued at around $272 million, German company Delivery Hero acquired Glovo's operations in eight Latin American countries, including Costa Rica, Honduras, Guatemala, Panama and the Dominican Republic.
Delivery Hero strengthens its position in Latin America, adding Peru, Ecuador, Costa Rica, Honduras and Guatemala to its existing presence, and further expanding its existing operations in Argentina, Panama and the Dominican Republic, the German business group reported.
As a result of the conditions imposed by the Superintendence of Competition to carry out the operation, América Movil and Telefónica decided to cancel the agreement to purchase 99.3% of Telefonica Moviles El Salvador.
According to the technical, legal and economic analysis carried out by the Superintendence of Competition SC, it was warned that the acquisition would produce limitations to competition in the markets of mobile and fixed telephony and business connectivity services.
One of the conditions for authorizing the acquisition is that America Movil must relinquish the right to operate 25 MHz of radio spectrum with national coverage in the 850 MHz band and 30 MHz of radio spectrum with national coverage in the 1900 MHz band, which currently belong to Telefonica.
According to the technical, legal and economic analysis carried out, it was warned that the acquisition would result in limitations to competition in the markets for mobile and fixed telephony and business connectivity services. Therefore, the Board of Directors of the Superintendence of Competition (CDSC) decided to impose a set of conditions to repair the damages, which include enforcement measures prior to the closing of the transaction (ex ante) and a series of subsequent obligations (ex post) in order to counteract such limitations, informed the Superintendence of Competition (SC).
Telefonica announced that it had reached an agreement with Liberty Latin America for the sale of the entire capital stock of its operation in Costa Rica, a transaction totaling $500 million.
Caribbean Coffee Traders Limited will operate from August 1st the 11 coffee shops that in the country operate under the Starbucks brand.
Starbucks executives for Latin America and the Caribbean informed that Caribbean Coffee Traders Limited (CCTL) is managed by businessmen Adam Stewart and Ian Dear, who have a license that leads Starbucks operations in three Caribbean markets, Jamaica, the Cayman Islands and the Turks and Caicos Islands.
Millicom announced that it exercised its right to terminate the Share Purchase Agreement for the acquisition of Telefonica's operating subsidiary in the Central American country.
The Superintendence of Banks authorized the transfer of up to 100% of the issued and outstanding shares of Multibank in favor of Leasing Bogotá S.A.
Resolution SBP-0053-2020 dated March 24, 2020, explains that "... Authorizes the transfer of up to 100% of the issued and outstanding shares of Multi Financial Group, INC. in favor of Leasing Bogotá, S.A.
On January 10, Laureate International agreed to sell Universidad Latina to the US conglomerate SP Costa Rica Holdings, a transaction that amounted to $22 million.
The agreement was that SP Costa Rica Holdings would make an initial payment of $15 million and the remaining $7 million would be cancelled within two years, if income and new student enrollment goals are met.
In Costa Rica, the sale of Grupo Gessa's supermarket chain, composed of 52 stores, to Grupo Empresarial de Retail S.A. was authorized.
On December 12, 2019 the file for the sale of Grupo Empresarial de Supermercados S.A. was presented. (Gessa), owner of the chains of stores of the formats Peri, Súper Compro and Saretto, to Grupo Empresarial de Retail S.A.
In Guatemala, the business group of South American origin acquired 40% of the shares still owned by BAM Financial Corporation, and consolidated 100% of the assets of the Agromercantil Holding Group.
Directors of Bancolombia reported that the company will begin the process of authorizations to regulatory bodies and that in the coming days will provide details on the price of shares, according to the contractual rules between the parties who closed the negotiation.
The Óptima financial group bought the shares of Financiera Solidaria S.A., a transaction that amounted to $50 million.
Directors of Óptima reported that Financiera Solidaria S.A. (Finsol) has been in the Honduran market for 21 years and that this acquisition is part of its strategy to regionalize the financial company in the micro and small business segments.
Grupo Carso announced the acquisition of the total shares of Ideal Panama, a company operating two hydroelectric plants with a combined capacity of 145 MW.
The amount of the transaction was $152.6 million, according to a relevant announcement published by the Mexican Stock Exchange.
Recognized Brazilian company of backhoe loaders, telescopic, articulated and other types of cranes looking for companies interested in representing the brand and distributing their machinery in Central America and Mexico. The company manufactures and sells telescopic,...