Puma Energy Service stations and distributors of Castrol in the isthmus will market the lubricants Castrol GTX, Castrol Magnatec and Castrol EDGE.
A statement from Puma-Energy reads:
CASTROL AND PUMA ENERGY JOIN FORCES IN CENTRAL AND SOUTH AMERICA
February 5, 2013 - Puma Energy LLC ("Puma Energy"), one of the largest independent oil companies in processing, marketing and distributing fuels and Castrol the leading lubricants company in the world, announced the creation of a strategic alliance to commercialize Castrol automotive lubricants in the Central and South America market.
The President of Grupo Digicel has announced investments over the next eighteen months of more than $40 million.
In his short visit to El Salvador, Denis O'Brien was interviewed about the expansion, with topics covered such as the Salvadoran authorities refusal to authorize the sale of Digicel to Claro and the company’s future investments in the country.
The Superintendence of Competition in El Salvador has ruled that the transaction does not classify as monopolistic concentration.
Europa SA, the third largest supermarket chain in El Salvador after Walmart and the Guatemalan Hiper Paiz, had closed the store last week, which was ranked as Central America's largest when opened in 1998.
Elsalvador.com reports that "the transaction does not involve the purchase of shares, transfer of licenses, representations or branding of the stores, said the SC. The process does not represent a commitment to a transfer of the business enterprise, labor liabilities, furniture and equipment, or accounts payable or receivable. The object of the promise of sale transaction "is solely the property."
After the competition regulator imposed the release of part of the spectrum leased by Claro as a condition to the merger between the two companies, America Movil has announced its withdrawal from the move.
In March last year, America Movil announced an agreement to acquire a 100% stake of Digicel El Salvador, for an undisclosed amount.
The Superintendency of Competition (SC) of El Salvador conditioned the operation to Claro waiving the right to exploit 20 MHz of the total spectrum it owns in El Salvador. "The reason for this precondition to authorize the merger of operations of both companies is to retain the current level of competition in the cell phone industry to protect consumers' pockets", explained at the time the head of the SC, Francisco Diaz Rodriguez .
The Superintendency of the Financial System in El Salvador (SSF), has authorized the company Suramericana SA to buy insurer Aseguradora Suiza Salvadoreña S.A. (Asesuisa).
The purchase of the leading insurer Aseguradora Suiza Salvadoreña S.A. by Suramericana SA was announced last year in 2011, but has been awaiting authorization from the competent authorities.
For the second time the Superintendence of Competition of El Salvador has refused permission for economic concentration between both companies.
From a statement from the Superintendency of Competition (SC):
SC does not authorize the purchase of DIGICEL
After carrying out technical legal and economic analysis, the Board of Directors (CD in Spanish) of the Superintendence for Competition (SC) decided to reject application of economic concentration by CLARO from the purchase of DIGICEL, considering that the proposed economic concentration has high probability of having an adverse effect on the dynamics of competition and consumer welfare in the markets for fixed and mobile telephony.
Unicomer Group, owned by the Salvadoran company Siman and the Mexican company El Puerto de Liverpool SAB, have finalized the purchase of the Costa Rican home appliance chain Gollo.
According to an article in Elfinancierocr.com, Gollo chain stores have "113 outlets, 68,000 square feet of sales area, more than 350,000 customers and 1,500 employees.
Confidential sources said part of the reason for the sale was a lack of clarity in the company’s succession plan. "
Empresas Públicas de Medellín (EPM) will consolidate its subsidiaries into one or two companies in Panama.
A press release from Empresas Públicas de Medellín (EPM) states:
In order to simplify, optimize and streamline the international corporate structure of the EPM Group, the board of the EPM approved during its meeting on Wednesday the implementation of a reorganization project for several of the companies located in Panama, Guatemala, El Salvador and the Cayman Islands.
The Competition Superintendence of El Salvador has acknowledged receipt of a new request for the acquisition of 100% of Digicel’s shares by Claro in March 2012.
From a communciation from the Superintendence of Competition (SC):
SC Receives new application from CLARO - DIGICEL
The Board (CD) of the Superintendencia de Competencia (SC), has received a new application for a new merger request made by the company America Movil, which owns the CLARO brand, for the purchase all of Digicel’s shares.
The largest financial institution in Colombia is looking in Latin America for good opportunities to acquire assets.
Bancolombia started its regional expansion in 2007 by buying Banagrícola in El Salvador, for $900 million.
Although the president of Grupo Bancolombia, Carlos Raul Yepes, notes that "for now there aren't any businesses that are catching our eye," he did confirm that they are looking for businesses that are "good, nice and cheap."
The North American HBFuller has agreed to sell its paint division to Pintuco, a subsidiary of the Colombian company, for $120 million.
Grupo Kativo, which until recently was owned by HB Fuller, is a leader in the Central American paint market. The company has over 60 years experience and has presence in six countries.
Grupo Mundial president Ernesto Fajardo Pinto, told Dinero.com, "With this acquisition, Pintuco is strengthened in a region of strategic interest and reaches a coverage in 11 Latin American countries. Grupo Kativo has a portfolio of products recognized for their quality, is a leader in paint sales in the region, has an extensive distribution network and very positive business and financial results."
The Competition Superintendence in El Salvador has approved a merger between AMNET and Telefónica Multiservicios having determined that it will not generate a significant limitation of current competitive conditions.
From a press release from the Superintendence of Competition:
The Competition Superintendence of El Salvador has approved the economic concentration between AMNET and Telefónica Multiservicios after determining that it will not generate a significant limitation to current competitive conditions.
Claro has submitted a new request to the Superintendency of Competition (SC) in El Salvador for authorization to buy Digicel.
The SC has received a new request for authorization of economic concentration on the part of America Movil, owner of the Claro brand, to purchase all the shares belonging to Digicel.
According to a review by the SC, the information and documentation submitted does not comply with some of the requirements of Article 35 of the Competition Act and 25 of its regulations and is not sufficient for analysis of admissibility, for which it has granted a period of thirty days for the applicant to remedy the situation.
The Swiss oil company has completed the takeover of the assets of Exxon Mobil in Belize, Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua and Panama.
The Exxon Mobil assets to be transferred to Puma Energy include 300 service stations, two refineries, the addition of three terminals, two airports and a marine bunker fuel supply which supplies 20% of the regional market, all of which involves managing a 20 million barrels of oil per year.