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.
The agreement will enable customers to send and receive money transfers from any of the 50 stores of Grupo Progreso.
Of Guatemalan origin, Grupo Progreso owns hardware store chains El Lagar and El Colono.
"Western Union, who focuses on international money transfers, operates in Costa Rica through a local operator, Airpark de Costa Rica", reported El Financiero.
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