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.
The Óptima financial group bought the shares of Financiera Solidaria S.A., a transaction that amounted to $50 million.
Directors of Óptima reported that Financiera Solidaria S.A. (Finsol) has been in the Honduran market for 21 years and that this acquisition is part of its strategy to regionalize the financial company in the micro and small business segments.
Pan American Silver agreed to acquire the shares of Canadian Tahoe Resources, thus becoming the owner of the Mina San Rafael project in Guatemala.
With no details on the transaction amount, it was reported that the agreement between the two companies was approved on January 8, 2019 and is expected to be finalized on February 26.
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.
The Honduran Terra Group has acquired the network of 32 service stations from PacificOil that will now be operated by UNO Guatemala.
The deal relates to the corporate division of Terra Oil, part of Terra Group, which acquired all of PacificOil's service stations in Guatemala, reported Elperiodico.com.gt.
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.
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.
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.
A law has been amended to give discretion to the Council of Secretaries of State to authorize the purchase of second hand machinery and equipment parts.
With the adopted reform the Executive Branch is authorized to purchase used equipment and machinery for the purpose of promoting efficiency and savings in public procurements. Although the ban on the state buying used goods holds, exceptions have been made in cases to be determined by the Council of Secretaries of State .
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.
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
As of April 5 mergers and acquisitions will have to be approved at the Antitrust Commission, part of the Ministry of Economy, Industry and Trade, before they can take place.
From that date, the Antitrust Commission, at the Ministry of Economy, Industry and Commerce (MEIC), will have the power to approve or deny deals, if it is concluded that they would result in undue concentration of business. The activities which must be reported to this Committee are those in which the assets of the companies involved exceed $15 million.
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