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

Supermarket Chain Sale Confirmed

January 2019

In Panama, Grupo Rey owners agreed to sell 73% of the company's shares to Ecuador's Corporación Favorita.

At the beginning of November 2018, Grupo Rey was reported to have disposed of the sale of 60% of the shares to Corporación Favorita, a transaction that at that time was estimated could close at $273 million. However, according to the latest negotiations, the percentage of shares to be purchased by the Ecuadorian business group will be higher than initially announced, as they will acquire 73%.

Supermarket Chain Sold in Panama

November 2018

In Panama, the owners of Grupo Rey agreed to sell 60% of the shares to Ecuador's Corporacion Favorita, a transaction that could cost $273 million.

The Share Acquisition Public Offer (OPA) launched by Corporacion Favorita was established at $8.58 per share, in which the Ecuadorian group committed to purchase 60% of the issued shares, for which it will acquire approximately 31.8 million shares.

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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