Cemento Interoceanico de Panama announced that the Progreso group acquired 100% of its shares and that they have begun a transition process.
Panamaamerica.com.pa reports that the business conglomerate Progreso, owner of Cementos Progreso, decided to invest in Panama because of "... high demand for cement in the country and the increase in the prices of the largest input of the construction industry, which is part of the many reasons why it bets on the market to provide a high quality product at a competitive price, complying with established standards and controls."
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 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."
Four months ago mergers and acquisitions in Costa Rica were conducted without any governmental control.
Now, operations of this type over $15 million must be authorized by the Commission to Promote Competition (COPROCOM) in the first four months of rule of law, four mergers or acquisitions of companies have been authorized
Nación.com reports: "It is related to the purchase of the dairy company Monteverde by Sigma Alimentos, the acquisition of Archives Beeche by Document Management Solutions SRL (DMS), the sale of El Lagar to Ashland Financial SA and the sale of Almacenes El Colono to Agricultore (sic) Advisory Corp. SA ".
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.
Two companies detected an opportunity in the call center boom and are hoping to become the number one provider of the infrastructure that is needed by these centers.
Vertical (the Real Estate Division of Grupo Progreso) and Desarrollos Inmobiliarios Concepción are two companies that recently formed the Grupo Campus Corporativo, after identifying the opportunity to enter a new niche that is growing in the real estate market.
El Lagar, a hardware store chain that's been around for four decades, is no longer a family business and has tied its fortunes to those of Grupo Progreso de Guatemala.
The regional conglomerate Grupo Progreso de Guatemala has acquired a majority interest in the El Lagar.
General Manager Ricardo Mora said that under the new owners, there will be some changes in the working conditions, but "the way we have treated our customers will not change and, on the contrary, will be strengthened."