Company Profile Organization that operates in Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua and Panama.
The 200 biggest companies in Central AmericaMonday, November 3, 2008 They produce 28 percent of the GDP in the area. Their performance sets the pace for economic activity and industry trends. Mexican America Movil and Arkansas giant Wal-Mart are, without a doubt, the two biggest stars in the ranking, evidencing the significant activity in telecommunications and retail sales in the region. Panama: El Alto Hydroelectricity Station to Issue $90 million in BondsMonday, May 19, 2014 Hydro Caisán requested permission for its second corporate bond issue which it aims to use to restructure liabilities. After having completely placed a $130 million bond issue in 2012, the company Hydro Caisán, SA has asked the Superintendency of Securities (VPS) for approval for a new issue of up to $90 million, with the aim of paying off in advance the existing bonds of Generadora Pedregalito, S.A. and Generadora Alto Valle, S.A Panama to Host XII Investors ForumMonday, July 18, 2011 Organized by the Panamanian Stock Exchange, the event will be held on August 18 in Panama City. During the forum, nine Panamanian organizations will share their results and future plans. GE sells BAC-Credomatic in Central America to Grupo AvalThursday, July 15, 2010 GE Capital Global Banking announced today that it has reached a definitive agreement to sell BAC Credomatic to Grupo Aval, Colombia’s largest banking holding group, for $1.9 billion. The transaction is subject to certain regulatory approvals and other customary conditions, and the parties anticipate closing by the end of 2010. Partners Sought By AviancaFriday, September 16, 2016 Delta Airlines, United Continental and Copa Airlines may have submitted bids to acquire a minority stake in the company, which is said to be looking for an international partner to strengthen its growth. Bloomberg.com reports that "...Avianca Holdings S.A., based in Bogota, has been hunting for an international partner to help shore up its balance sheet and support growth...Some giants of the industry have been evaluating the idea." Grupo Rey Opens in PanamaFriday, December 17, 2010 The opening of the new Rey Centennial Supermarket marks the beginning of the expansion plans for 2011. The group has planned to open four supermarkets in Chitre, Versailles, 24 de Diciembre and La Chorrera and a new logistics center in Coquito, which will concentrate the operations of Agroindustrial Rey, one of the group´s companies. Costa Rica: Hotel Purchased for Medical TourismTuesday, December 16, 2014 Agroganadera Pinilla SA has announced the sale of La Posada, in Hacienda Pinilla, Guanacaste, to the company Rythmia Holdings Company SRL, which will convert the facility into a center for medical treatment. From a statement issued by Agroganadera Pinilla, SA: Panama's growth to be between 7% and 8%Thursday, July 3, 2008 The consulting firms Indesa and Deloitte estimate that Panama's economy will grow by seven to eight percent this year. This is slower than the 11.2 percent growth in 2007, with a pattern similar to that of the period 2004-2006. Panama: Grupo Rey Invests $2 MillionFriday, December 4, 2009 The Group opened its 39th supermarket in the country, located in the city of David, in Chiriquí. This store, the chain's first in the province, employs 68 people. TECO Guatemala Income Drops 17%Friday, August 14, 2009 Sales summed $21.1 million in the first half of the year, 17% less than the same period of 2008, when $25.4 million were sold. Statements presented to the U.S. Securities and Exchanges Commission report a $2.5 million reduction in net income, "as a result of the reduction of the Distribution Added Value (VAD), from the sale price...". Panama: Telecarrier Merges with Cable OndaTuesday, November 17, 2009 Medcom Holdings, owner of Cable Onda, agreed with Telecarrier International to merge their telecommunications operations in Panama. 51% of the resulting company will be owned by Medcom Holdings INC, and 49% by Telecarrier International LTD. Grupo Rey Invests $21 Million in PanamaFriday, May 22, 2009 Grupo Rey Holdings began the construction of a new supermarket in Chitré, the chain’s first one in the Azuero region. With an investment of $21 million, the construction of 3 thousand square meters for the next Grupo Rey supermarket began in Chitré and it will generate over 100 direct jobs. TECO challenges Guatemalan tariff actionsWednesday, January 21, 2009 TECO Energy Inc. said earnings at its subsidiary in Guatemala have been cut following actions of a Guatemalan regulatory agency. As publish in bizjournals.com: "The subsidiary, TECO Guatemala Holdings LLC, has filed notice that it will file an arbitration claim against the Republic of Guatemala under the Dominican-Republic-Central America-United States Free Trade Agreement, or DR-CAFTA, TECO said in a filing with the Securities and Exchange Commission. In July, Guatemala’s National Electric Energy Commission unilaterally reset the distribution tariff for Empresa Eléctrica de Guatemala at levels well below the then existing tariff, the filing said. TECO Guatemala Holdings has a 24 percent interest in Empresa through a joint venture, and the action caused a “significant reduction” in earnings for the joint venture segment, the filing said." Guatemala Pays Debt to Teco EnergyWednesday, November 25, 2020 After Guatemala paid off its debt to Teco Energy, the $15.75 million embargo was lifted, resources that the country had allocated for interest payments from some Eurobond holders. Arguing that from 2008 to 2013 the Guatemalan National Energy Commission set a maximum amount that electricity distribution companies could charge the user, Teco Energy, a company that was a shareholder of Empresa Electrica de Guatemala, sued the country internationally. |
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