Costa Rica: Panamanian Group enters the Banking Market

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.

Thursday, April 23, 2015

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.

Juan Carlos Fabrega, president of Prival said in an article on that "... 'Through the purchase of Bansol, we are starting operations in Costa Rica allowing us to provide products and services to corporate private banking and investment banking as we have done in Panama for the last five years'. "

"... Prival Bank focuses on private, corporate and investment banking in Central America. Its capital is $73 million, and its assets exceed $510 million. This portfolio will increase to about $715 million with the new operation. "

More on this topic

Costa Rica: Bansol Changes Brand Name to Prival

September 2015

After having bought 100% of the shares of the Costa Rican bank Bansol, Prival Bank announced that from September 7 it will operate in the country under its own brand name.

The purchase of 100% equity of Bansol was announced in April, and now the Bansol brand name is being replaced by the Panamanian bank.

Panamanian Group Buys Bank in Costa Rica

October 2014

An agreement has been made to the sale of 100% of the shares of Banco de Soluciones Bansol to Grupo Prival de Costa Rica, a subsidiary of Prival Bank S.A.

The relevant fact was published by the Superintendency of Securities (Sugeval):

"... On October 13th all the shareholders of Banco de Soluciones Bansol de Costa Rica S.A signed the documents for negotiation of the sale of all of the shares in circulation of aforementioned Costa Rican bank. The buyer is the Costa Rican company Grupo Prival de Costa Rica S.A., a public limited company organized and existing under the laws of Costa Rica, which, once the sale is closed and final and effective will become a subsidiary of Prival Bank SA, a banking entity domiciled and with operations in Panama, Republic of Panama.

Costa Rican State Telecom Will Not Concede Frequencies

November 2012

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).

Costa Rica: HA&COM Confirms Deal with Florida

September 2010

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.

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