Two businessmen have acquired 100% in the equity interest of Corporación Yanber, which earlier this year had been handed over to creditors in order to avoid bankruptcy.
Francis Durman told Crhoy.com that"... 'The intention was never to acquire the company, rather the need to inject more resources to capitalize the company was fundamental to achieving the goal of balancing the operation in the first year and starting to generate profits from the second year.This capitalization is very important to ensure the future of the company'."
Two US investment funds will be investing in the Costa Rican company Establishment Labs, a manufacturer of breast implants.
From the press release by Establishment Labs:
Our mission is to make breast aesthetics safer and better for women worldwide by delivering a world class technology platform that promotes women's health and enables the strategic adoption of Motiva as the brand of choice in the market,” said Juan José Chacón-Quirós, CEO of Establishment Labs. “The investment and partnership from Crown Predator and JW Asset Management and the global relationships and experience they provide will enable us to accelerate investment in our technology, grow our customer base, and scale our business to meet growing demand. We are excited to officially begin the journey to bring our next generation Motiva implants to the United States, the largest market for breast aesthetics in the world."
Through a mutual fund, the World Bank and other multilateral institutions, will be awarding $50 million to finance small and medium enterprises in the region.
With a mix of capital and a long-term soft loan the III Caseif fund, managed by Lafise Panama, will have $50 million for small and medium businesses who require funds to finance their operations.
The minimum amount of capital required to establish and operate a financial institution in Nicaragua has risen to $2.1 million.
The Superintendency of Banks and Other Financial Institutions agreed to raise the minimum capital required for the establishment and operation of financial institutions. The amount increased from C50 million (U.S. $1,953,071) to C$55 million (U.S. $2,148,387).
As part of the company's recapitalization plan, the Panamanian government will provide up to $48 million to the Bahía Las Minas project.
The state has had to adopt, for the third time in five years, an agreement to support the thermal electricity station and try move a complicated investment plan forward.
"With the 49 % stake held by the state , the government of Ricardo Martinelli pledged up to $48 million on a plan to recapitalize the company. " " ... Suez Energy International Luxembourg SA will have to provide up to 52 million dollars as the majority shareholder."
The President of El Salvador has expressed suspicions that the original contract with the Italian company was changed "in the dark" by government officials.
The president referred to the subject in his radio program last Saturday, saying, "I've asked a group of lawyers to study the documents surrounding all investments with the Italian shareholders and it will be these specialists who might be able to shed a light on this illegal act, including even asking the Attorney General's Office to establish whether criminal liability be established in the future. "
In order to improve the bank’s financial position, the Guatemalan government has transferred $12.7 million and expects to disburse another $6.3 million in the short term.
Pavel Centeno, the finance minister, said the decision was made this year to capitalize on the effects of the fiscal deficit not increasing in the coming year 2013.
Regarding the issue Victor Mancilla, Chief Superintendent of Banks, said that because of the effects of absorbing banks in the past, the CHN became weakened because of the portfolio management that these institutions received and it needed to incorporate these reserves. 'The government is giving its support so that these reserve can be constituted, because of the impaired portfolio, a result of these operations.' ", reported Elperiodico.com.gt
CEL has filed a motion to quash the ruling that would allow Enel to have a majority stake in LaGeo geothermal plant.
Tóchez Irving, president of the Commission of the Lempa River Hydroelectric Executive, said: "It is inappropriate to put a country’s strategic resource, such as a geothermal plant, into private hands," when presenting the proceedings before the court of appeals in Paris, France.
The way that the government handles the arbitration failure at the International Chamber of Commerce on the La Geo case could dictate the success or failure of state-business partnerships.
The private-public scheme has been promoted recently by the Salvadoran government for the implementation of large public infrastructure projects because they can free the state from the significant investments that such works require.
The decision means that ENEL will be able to capitalize the geothermal GEO and become the majority shareholder in the business it maintains with the Executive Hydroelectric Commission of the Lempa River (CEL).
According to an article in Elsalvador.com, ENEL had sued its partner for breach of contract in November 2008 because CEL had blocked a $100 million investment, which meant that ENEL went from having just over 36% the company's shares to almost 53%. "The contract, signed in 2002, provides that Enel has the right to capitalize on their investments, that is to say, investments in La Geo are transformed immediately into shares."
The German Investment and Development Company (DEG) will provide $4 million in capital and grant $8 million of credit to Melones de Nicaragua S.A.
The long-term credit will allow the company to expand its operations.
According to an article in Laprensa.com.ni: "The funds will be invested in expanding rice cultivation areas, in the clearance and construction of irrigation wells in Jicaral, Leon; in the construction of a cogeneration electric power plant based on rice husks with a capacity of producing one megawatt and a program for small producers to process their crops with a thresher in which the company has already invested a million dollars. "
The financial conglomerate has issued 1,538,461 shares for the sum of $10 million in the local primary market.
The issue was agreed at the last shareholders meeting.
The funds will be used to increase capital of the Banco Panameño de la Vivienda (Banvivienda) and "’to meet obligations of the holding company’, said Fernando Lewis, president of the group", according to an article in Prensa.com
Grupo Mundial will enlarge the capital base of bank "Banco Banvivienda" for the second time in 2009.
In June, the group had injected $10 million in the bank.
Prensa.com reports: "...the purchase of 65% of Aseguradora Mundial on behalf of Spanish corporation Mapfre... implies a $102.7 million cash payment for the group, in additon to $4.5 million in dividends for 2009's operations, as well as 35% of Mapfre Central America".
A report by risk rating company Equilibrium (Moody's), analyzes the sector's main indicators for the first half of 2009.
Assets and Loan Portfolio
By the end of the first half of 2009, the Banking system reported $63.725 million in assets. The loan portfolio makes up 63.2% of the total ($40.291 million). Loans had grown at an average pace of 19% from 2004 to 2007, but in September 2008 there was a change in the trend.
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