The Superintendence of Competition authorized the merger request submitted in 2019 by the conglomerates Inversiones Financieras Imperia Cuscatlán and The Bank of Nova Scotia.
The Superintendence of Competition notified Imperia Intercontinental Inc., the main shareholder of Banco Cuscatlán, that the request to purchase the banking and insurance operations of the Canadian entity was accepted.
Imperia Intercontinental Inc., the main shareholder of Banco Cuscatlán, reached an agreement to purchase the banking and insurance operations of the entity of Canadian origin.
The sale of Scotiabank's operations in El Salvador is subject to authorization by the Superintendence of Competition and the Superintendence of the Financial System.
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.
Citigroup has sold 75% of the shares in Administradora de Fondos de Pensiones Confía to the company Inversiones Atlántida.
Although the amount of the sale has not been released, the three institutions involved have confirmed the transaction. According to authorities at Citigroup, this operation does not affect the rest of the bank's business in El Salvador and they are just waiting for approval from the Superintendent of the Financial System in order to complete the transfer.
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.
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.
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.
The Commission to Promote Competition in Costa Rica has approved the purchase of 100% of the shares of the company Incesa by OC International Hondings.
Elfinancierocr.com publishes "The request made by OC International was presented on May 7 and once the required documentation had been submitted they proceeded to analyze the appropriateness of the transaction in the light of the provisions of the Competition Act."
Organización Corona has announced the signing of an agreement to acquire the majority of Incesa's shares and the brand American Standard for Central America.
The Colombian company, which specializes in the manufacturing and marketing of building materials, expects that the transaction will be formalized in the third quarter of 2013, following the approval of the authorities of each country.
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.
Puma Energy has agreed to acquire ExxonMobil’s commercialization and fuel supply assets in Belize, El Salvador, Guatemala, Honduras, Nicaragua and Panama.
Founded in 1997, Puma Energy has quickly grown into one of the world’s largest independent petroleum commercialization and downstream distribution companies.
The acquisition must still be approved by the corresponding authorities in each country.
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.
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.