The Superintendence of Banks authorized the transfer of up to 100% of the issued and outstanding shares of Multibank in favor of Leasing Bogotá S.A.
Resolution SBP-0053-2020 dated March 24, 2020, explains that "... Authorizes the transfer of up to 100% of the issued and outstanding shares of Multi Financial Group, INC. in favor of Leasing Bogotá, S.A.
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.
The government will allocate resources for the purchase of medicinal and pharmaceutical products, laboratory supplies, medical surgical instruments, and X-ray equipment, among other things.
From a statement issued by the Ministry of Economy and Finance:
An Additional Supplementary Credit to the General State Budget for the fiscal year 2018, was approved at an ordinary meeting of the National Economic Council, with allocation in favor of the National Oncology Institute and the Santo Tomás Hospital, up to the sum of 16,846,685 balboas, of which about 6 million 596 thousand 74 balboas will correspond to the National Oncology Institute and 10 million 250 thousand 611 balboas to the Santo Tomas Hospital in order to ensure the availability of medicines and supplies.
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.
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.
The acquisition agreement includes an option to acquire an additional 20% in the future.
The mining company Golden Phoenix Minerals Inc. has announced the signing of a definitive purchase agreement to acquire a 60% stake in the Santa Rosa Gold Mine, located in Panama from the Panamanian corporation Silver Global.
The company will become owner of 60% of the newly created company, Golden Phoenix Panama S.A.
Over the past 12 years, at least 10 of the country's largest industrial companies were acquired by foreign capital.
Rafael E. Berry, in his analysis in Panama America, details how from 2000 to date some of the largest Panamanian industries were acquired by foreign groups, including the National Brewery ($ 260 million), Cervecería Baru Dairy Industries ($ 220 million), and others like the largest manufacturer of bottles and companies from the food sector.
The multinational agreed to its sale, including debt, to a private equity group led by Kohlberg Kravis Roberts fund (KKR).
The purchasing group formed by Kohlberg Kravis Roberts fund (KKR), Centerview Partners and Vestar Capital Partners will pay $ 19 per share of Del Monte, plus the company's debt of about $ 1,300 million.
The deal is expected to close in late March 2011 and it allows Del Monte to search for a better purchase offer up until January 8th.