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.
A world leader in packaging, Smurfit Kappa, has announced the acquisition of Cybsa Group, a company which produces smooth and corrugated cardboard boxes plants in El Salvador and Costa Rica.
From a statement issued by Smurfit Kappa:
Smurfit Kappa Group is pleased to announce that it has agreed to acquire CYBSA Group, a manufacturer of folding cartons and flexible packaging with operations in El Salvador and Costa Rica.
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.
With the authorization of the acquisition of Punto Rojo by Colgate Palmolive the market has been divided up between two great competitors.
Unilever and Colgate Palmolive are now the two main competitors in the market for soaps in Costa Rica, after the Ministry of Economy, Trade and Industry authorized the acquisition of Punto Rojo requested by Colgate Palmolive.
Through its petroleum division Uno Costa Rica Terra Group bought seven service stations from the Costa Rican Grupo Colono.
Uno Costa Rica, the petroleum division of the Honduran Terra Group, has purchased seven services stations operated by the Costa Rican group Colono in Limon and Alajuela. The amount of the transaction has not been revealed.
This was confirmed by Uno from Honduras and "Victoria Velasquez, director of the Commission to Promote Competition, at the Ministry of Economy, Industry and Commerce (MEIC), responsible for approving or denying transactions of mergers and acquisitions in the country."
Four months ago mergers and acquisitions in Costa Rica were conducted without any governmental control.
Now, operations of this type over $15 million must be authorized by the Commission to Promote Competition (COPROCOM) in the first four months of rule of law, four mergers or acquisitions of companies have been authorized
Nación.com reports: "It is related to the purchase of the dairy company Monteverde by Sigma Alimentos, the acquisition of Archives Beeche by Document Management Solutions SRL (DMS), the sale of El Lagar to Ashland Financial SA and the sale of Almacenes El Colono to Agricultore (sic) Advisory Corp. SA ".
As of April 5 mergers and acquisitions will have to be approved at the Antitrust Commission, part of the Ministry of Economy, Industry and Trade, before they can take place.
From that date, the Antitrust Commission, at the Ministry of Economy, Industry and Commerce (MEIC), will have the power to approve or deny deals, if it is concluded that they would result in undue concentration of business.
A law is required not only to provide legal certainty on the issue, but also to create incentives for economic activity which is vital to the economy.
According to Alonso Arroyo's article, published by Elfinancierocr.com, the regulation on the issue of Mergers & Acquisitions (M & A) in Costa Rica, requires clear rules that encourage activity in the middle, taking the example of what has been the engine of various economies in Latin America.
The Superintendency of Telecommunications has revised its decision to make the return frequencies conditional for cable companies merging with the Instituto Costarricense de Electricidad.
The purchase of the cable company Cable Vision by the Instituto Costarricense de Electricidad (ICE) had been conditional by the Superintendency of Telecommunications (SUTEL) on the waiver of airwaves segments: from 1880 MHz to 1920 MHz (40 MHz), 2520 MHz to 2620 MHz and 2640 MHz to 2690 MHz (150 MHz) and the segment of 3600 MHz to 3440 MHz (160 MHz).
Along with two other private sector competitors, the state run Costa Rican Institute of Electricity intends to buy Cable Vision.
The state-owned Instituto Costarricense de Electricidad (ICE) aims to break into the business of cable television and is bidding for the company Cablevision.
This was reported by the ICE Group and Cablevision, separately. In addition, two other companies have also submitted offers to buy the cable company, which mainly provides services in areas having low and middle economic strata, reported Nacion.com.
The multinational agreed to its sale, including debt, to a private equity group led by Kohlberg Kravis Roberts fund (KKR).
The purchasing group formed by Kohlberg Kravis Roberts fund (KKR), Centerview Partners and Vestar Capital Partners will pay $ 19 per share of Del Monte, plus the company's debt of about $ 1,300 million.
The deal is expected to close in late March 2011 and it allows Del Monte to search for a better purchase offer up until January 8th.
By completing negotiations, Florida Bebidas will now distribute and sell about 85 brands of wines.
Among brands to be distributed are Concha y Toro, Clos de Pirque, Marques de Caceres and Navarro Correas.
LaNacion.com reports, "this was reported by Gisela Sanchez, director of corporate relations at Fifco, who said yesterday the company made the official announcement to its employees.
The company HA&COM Bebidas del Mundo has reaffirmed its interest in selling its wine division to Florida Bebidas (Fifco).
María Pía Robles, Corporate and Communications director for HA&COM, commented in an email to the La Nacion newspaper that the companies have been working on the deal for a year, which will see the HI Cuveé and Vinum Aura businesses sold to Fifco. Together these comprise some 85 different wine brands.
The Company Florida Bebidas (subsidiary of Fifco) is negotiating the purchase of HÅ&COM, Bebidas Del Mundo S.A.'s wine division.
Florida Bebidas announced the purchase to Costa Rica's securities regulator (Sugeval).
"In this case, the company informed that once the agreement with HA&COM Bebidas del Mundo is finalized it will purchase the companies HI Cuveé S.A. y Vinum Aura S.A.", reports Nacion.com.