Both companies announced an agreement for La Estancia, Guatemalan and Ecuadorian capital, to acquire a stake in the Panamanian company Toledano.
Monday, October 7, 2019
La Estancia, a company that will have a stake in Toledano, is a consortium born from the merger of Procesadora Nacional de Alimentos C.A. (Pronaca), headquartered in Quito, Ecuador, and Corporación Multi Inversiones (CMI), in Guatemala City.
Prensalibre.com reviews that "... The agreement was reached for La Estancia to make a significant investment in the company that gives it a relevant shareholding and management of the operation of the business although the company Toledano remains in the directive was indicated by means of a bulletin issued by the two firms."
The statement issued by both companies states that "... With the incorporation of La Estancia will further enhance the growth of the company by providing capabilities, investment and experience to continue growing and innovating to meet the new needs of consumers and the challenges facing the sector."
In the official statement it was not informed which will be the shareholding that Toledano ceded to La Estancia and it does not detail the amount of the commercial transaction.
Climatic factors and a fall in international prices are some of the reasons for the reduction of 50% in the volume exported in 2016 compared to the previous year.
Two poultry plants that Inversiones Blackbird recently opened will have capacity to process about 7.5 million chickens a year.Bruce Burdett, owner of Blackbird Investments, explained to Laprensa.hn that"... they will produce more than a million chickens every seven weeks."
Corporación Multi Inversiones has signed a contract to acquire part of the capital stock of Pronaca, a company dedicated to the manufacture of food in Ecuador.
Republica.gt reports that"... the Guatemalan multi-latina will finalize its investment once the Superintendence of Control of Market Power in Ecuador has given its approval, for which the respective legal documentation has been sent."
After selling to Mapfre a 65% stake in its insurance business in Panama in 2009, Grupo Mundial is now using its option to sell the remaining 35%.
On 29th March a meeting of shareholders approved the sale, estimated $85 million.
"According to a statement the funds will be used for the cancellation of a loan agreement with Mapfre America for $34 million, the partial redemption of preferred and private shares, common dividend payments outstanding at $0.25 per share, and operating cash flow for Grupo Mundial Tenedora," reports Capital.com.pa.
The Spanish multi-national Eat Out and Pollo Campero signed an agreement on April 29 to form an alliance to expand the operations of both companies in Central America and Spain.
The companies created a new corporation, whose name was not revealed, in which Eat Out is the majority shareholder. Eat Out belongs to Grupo Agrolimen and Pollo Campero is part of the Guatemalan multi-national Multi Inversiones.
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