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.
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.
A world leader in packaging, Smurfit Kappa, has announced the acquisition of Cybsa Group, a company which produces smooth and corrugated cardboard boxes plants in El Salvador and Costa Rica.
From a statement issued by Smurfit Kappa:
Smurfit Kappa Group is pleased to announce that it has agreed to acquire CYBSA Group, a manufacturer of folding cartons and flexible packaging with operations in El Salvador and Costa Rica.
The business group chaired by the Panamanian Stanley Motta may be interested in acquiring units of Citi's consumer banking operations in Panama and Costa Rica.
It is not yet been revealed which of Citibank' consumer banking companies in Panama and Costa Rica they may be interested in acquiring. However, potential stakeholders include the General Bank of Panama and Grupo ASSA, which in addition to being insurers, also runs La Hipotecaria.
Bridgestone has announced the creation of a new division called Mexico and Central America, which involves the merger of operations in Costa Rica and Mexico, which together produce 11 million tires a year.
From next year the new division will be responsible for the markets of South America, Central America, Ecuador and the Caribbean. With this measure the aim is to "...
The Mexican group has announced an agreement to acquire all the assets of Eskimo and its subsidiaries in Nicaragua and the rest of Central America, without disclosing the amount of the transaction.
Eskimo SA is a food company in Nicaragua which has been operating for more than 72 years. Its main products include ice cream, milk and yoghurt. In Nicaragua, Eskimo is a leader in the dairy industry and its brand is synonymous with ice cream.
The Costa Rican chain CitiCinemas has acquired ten theaters from its competitor CCM Cinemas and says it will invest $3.5 million in renovations.
With the transfer of the operation of 10 cinemas to the company CitiCinemas "... the Local cinema industry is more competitive than ever. CCM Cinemas is now tied, in terms of the number of screens, with the Mexican company Cinepolis (29), CitiCinemas ranks second (17), Cinemark is in third place (16) and Nova Cinemas in the fourth with 7."
Grupo Pellas and Grupo Motta have bought a majority share of the orange and pineapple processing firm Ticofruit.
From a statement published on the website of Grupo Pellas:
The July 15, 2014, the groups Pellas of Nicaragua and Panama Motta have jointly acquired through the affiliate Pelmot Investments SA, a majority stake in the company Rivara Holding, SA, a holding / controlling company of TicoFrut, SA ("TicoFrut" ).
With the authorization of the acquisition of Punto Rojo by Colgate Palmolive the market has been divided up between two great competitors.
Unilever and Colgate Palmolive are now the two main competitors in the market for soaps in Costa Rica, after the Ministry of Economy, Trade and Industry authorized the acquisition of Punto Rojo requested by Colgate Palmolive.
Through its petroleum division Uno Costa Rica Terra Group bought seven service stations from the Costa Rican Grupo Colono.
Uno Costa Rica, the petroleum division of the Honduran Terra Group, has purchased seven services stations operated by the Costa Rican group Colono in Limon and Alajuela. The amount of the transaction has not been revealed.
This was confirmed by Uno from Honduras and "Victoria Velasquez, director of the Commission to Promote Competition, at the Ministry of Economy, Industry and Commerce (MEIC), responsible for approving or denying transactions of mergers and acquisitions in the country."
The state run company RACSA -which is experiencing serious financial difficulties- has acquired a virtual mobile phone operator that was " about to close".
The state run company Radiográfica Costarricense (ICE) has bought Fullmóvil, the virtual operator that sells prepaid phone services, reported the Telecommunications (Sutel).
An article in Crhoy.com reports that "Ana Victoria Velasquez, of the Committee on the Promotion of Competition, which was consulted on this acquisition, said that because it is a virtual operator which was about to close, the commission saw no problem in approving the purchase, but the last word went to the Sutel. "
With the acquisition of 50% of the stock brokerage firm Improsa Valores, Grupo Prival has ventured into the Costa Rican stock market.
The agreement signed by the parties aims to increase Improsa Valores' participation in the Costa Rican securities trading business.
From a press release issued by Improsa Valores Puesto de Bolsa:
Improsa Grupo Financiero, SA and Grupo Prival Costa Rica, SA (Prival) a Subsidiary of Grupo Prival SA (Panama), signed a purchase and sale agreement whereby Prival acquired 50% of the shares of Improsa Valores Puesto de Bolsa, SA.
The Instituto Costarricense de Electricidad has consolidated its leading position in the market without having to return frequencies as initially conditioned by the Telecommunications Superintendency.
Nacion.com reports: "... the company specializing in cable television and broadband internet (via cable modem) services became part of Grupo ICE as a subsidiary company." The state run telecommunications company has not yet reported the amount of the commercial transaction.
International Hospital Corporation Holding has sold its stake in Mexican hospitals in order to explore investment opportunities in Central America.
Gary B. Wood, CEO and Chairman of the Board of International Hospital Corporation Holding said the decision was taken because they prefer to redirect resources to operations in Central America and Brazil, as well as any opportunities that may present themselves in the future.
The bank has acquired Corporación Servivalores' portfolio of balances from its Middle Payments Division, amounting to $27 million.
Both companies omitted the value of the transaction that took place last week. Furthermore, no definition has been given on the future of the employees of the division acquired by the bank, although it has made a commitment to keep the majority of workers.
For a total of $305 million, the company from Colombia has acquired more than half of the assets of the French multinational Lafarge in Honduras.
"We have acquired facilities which have extraordinary efficiency and quality in the target region, but also under economic conditions which are attractive and have high growth potential," said Jorge Mario Velasquez, president of Argos.