Sale of Large Enterprises: $105 Million in Taxes For Panama

The sum amounts to the 5% tax collected from the sale of shares from BAC to AVAL Group and from Industrias Lacteas to Coca-Cola FEMSA.

Wednesday, December 8, 2010

An extraordinary income of approximately $ 105 million could be received by the Panamanian government from the sale of shares of the two large firms. These funds would pay the initial installment of the Metro line.

The sum is equivalent to five percent (5%) of the total value of the sale retained by the buyer, which may be considered the final payable tax.

In the case of the BAC group, the Superintendence of Banks of Panama has not objected to the sale of a banking company in Panama.



More on this topic

Costa Rica: Fifco Share Price Rebounds

June 2011

Shares in the brewery company Florida Ice and Farm have risen 20% in a week.

After having remained stable throughout 2011, the value of shares quoted on the national stock exchange showed a significant increase, from trading at $1.44 (¢733) to $ 1.73 (¢ 880) in just one week.

Coca-Cola FEMSA Completes Acquisition of "Grupo Industrias Lácteas"

March 2011

The Mexican Corporation Coca-Cola FEMSA announced it has completed the acquisition of Panama's "Grupo Industrias Lácteas", parent company of "Estrella Azul", "Conservas Panameñas" and "Plásticos Modernos".

This is Coca Cola's first foray into the milk and dairy industry, which is one of the largest and most dynamic segments of the non-alcoholic beverages market in Latin America.

Coca-Cola FEMSA to Buy Panamanian Company

October 2010

The Mexican group Coca-Cola Femsa has signed a preliminary agreement to acquire all the shares of Grupo Industrias Lácteas.

This agreement includes a commitment of exclusivity in negotiations, subject to government approvals, authorizations and a complete corporate legal, financial and operational audit.

Banco de Bogotá Interested in BAC-Credomatic

June 2010

The Colombian Bank has made an offer to purchase 100% of BAC-Credomatic’s shares.

The value of the offer was kept private, but it was known that it expires on the afternoon of June 10.

“After being authorized by the board of ‘Banco de Bogotá’, its president instructed one of its subsidiaries to make an offer for 100% of the shares of BAC-Credomatic Central America”, said a source from the Colombian Financial Superintendence to Terra.com.

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