About Us
Since our foundation in 1985, we have established ourselves as one of Panama’s most prestigious law firms. We are a full-service firm with a team of lawyers who provide timely and efficient advice in all practice areas
Our Strengths
At Alcogal, we pride ourselves on our solid reputation and extensive experience, which we have established since 1985. We are highly regarded for representing a diverse clientele, including multinational corporations, significant projects, and major banks and financial institutions. With a substantial international presence, Alcogal operates through multiple affiliated offices and maintains a robust network of correspondents worldwide. Additionally, we are deeply committed to compliance and ethical standards, particularly in preventing money laundering and financing terrorism, ensuring that our clients’ operations remain legally sound and secure.
We are renowned for our comprehensive legal expertise and client-focused approach.
We are committed to excellence and personalized service, making us a top choice for domestic and international clients and solidifying their reputation as a trusted partner in the legal community.
International Reach
Our offshore services are bolstered by affiliated offices in multiple international locations, allowing us to assist clients seamlessly with cross-border financial transactions and other offshore legal matters.
Compliance
We are dedicated to ensuring compliance with regulations for the prevention of money laundering and terrorist financing.
Our priority is to offer our clients peace of mind, knowing that their companies comply with the laws and regulations of each jurisdiction. Therefore, we consider it essential to know our clients through compliance with international standards and “Know Your Customer” policies.
More Than 40 Years of Legal Excellence
With more than four decades of legal leadership and a defining role in the country’s most important milestones, Alcogal moves forward with over 200 professionals committed to evolving alongside their clients and building the future with integrity and excellence.
First Decade
First Decade – 1985 to 1995
Global Growth: Making a lasting impact
During its first decade, Alcogal not only laid the groundwork for its international presence by opening offices in key jurisdictions across the Americas — including the Bahamas, Belize, and the British Virgin Islands — but also worked tirelessly to build strong relationships with many of our major corporate clients. This early effort proved essential, as 40 years later, these clients remain key pillars in our portfolio. Among our notable clients are Cable & Wireless Panama, Banco General, Banistmo, The Bank of Nova Scotia, and Citibank, among others. This strategic expansion marked the beginning of the firm’s strong commitment to a solid regional presence and a global vision. At the same time, our dedication to delivering exceptional service and understanding the specific needs of each client has allowed these relationships to endure and grow stronger over time.
1985 – We advised Banco General on the acquisition of part of Bank of America’s assets and loan portfolio in Panama.
1986 – We served as legal counsel in structuring the first syndicated loan agreement governed by Panamanian law. We represented a consortium of banks composed of Chase Manhattan Bank, Citibank, The First National Bank of Boston, Deutsche Bank International, Banco de Iberoamérica, and Banco del Istmo. The borrower in this transaction was Cervecería Nacional, setting a precedent in the evolution of corporate financing in Panama.
Second Decade
Second Decade – 1996 to 2005
1996 – We advised Evergreen on the concession of a port in Colón, a strategic transaction that strengthened the country’s maritime infrastructure and positioned Panama as a regional logistics hub.
1997 – We advised Cable & Wireless on the acquisition of 49% of INTEL’s shares, marking a milestone in the privatization of the telecommunications sector.
1998 – We were involved in the acquisition of Banco Ganadero by Banco Bilbao Vizcaya Argentaria (Panama).
2005 – We advised Banco General on the purchase of the assets and liabilities related to Fleet National Bank’s banking operations in Panama, which operated a branch in the country under the name BankBoston.
1996 – We advised the Cisneros Group on structuring a strategic alliance with The Coca-Cola Company, which marked the end of its commercial relationship with PepsiCo. As part of the agreement, Coca-Cola acquired 50% of the shares of Hit de Venezuela, the Cisneros Group’s bottling company, in a transaction valued at approximately USD 500 million (USD 300 million in cash and USD 200 million in assets). This transaction led to the creation of a joint venture called Coca-Cola y Hit de Venezuela. PepsiCo’s exclusion from the Venezuelan market subsequently triggered a legal process.
1998 – We represented Kansas City Southern Railroad in the privatization of Panama’s historic railway, facilitating its transformation into a key logistical corridor for global trade.
2000 – We advised on the merger by absorption of Banco Bilbao Vizcaya (Panama) and Banco Exterior, with the former remaining as the surviving entity and subsequently changing its name to Banco Bilbao Vizcaya Argentaria (Panama).
2005 – We represented Constellation Power in the sale of Panama Distribution Group to Ashmore Energy. Despite the change in shareholders, Ashmore requested that Alcogal remain as ENSA’s legal counsel, a role we have continued to fulfill without interruption.
Third Decade
Third Decade – 2006 to 2015
2007 – We advised PSA Panama International Terminal on the negotiation and drafting of the contract-law with the Panamanian government for the development and operation of a world-class port terminal.
2007 – We represented Citibank in its acquisition of Grupo Financiero Uno for approximately USD 1.3 billion.
2009 – We advised The Bank of Nova Scotia on the acquisition of the assets and liabilities of BNP Paribas, Panama Branch.
2010 – We were involved in the acquisition of BAC-Credomatic by Grupo Aval for approximately USD 1.9 billion.
2011 – We advised Icatech Corporation on the sale of Corredor Sur, one of Panama City’s main highways, to Empresa Nacional de Autopistas, S.A. (ENA), a government entity, for approximately USD 420 million.
2013 – Alcogal advised Banco Bilbao Vizcaya Argentaria on the sale of 100% of its shares to Grupo Aval, through its subsidiary Leasing Bogotá, Panama. The transaction was completed for a value of USD 646 million.
2006 – We advised Grupo Banistmo on the acquisition of Banistmo by HSBC, one of the most significant transactions in the banking sector in the region.
2007 – We advised Citibank on the acquisition of Grupo Cuscatlán for approximately USD 1.4 billion.
2010 – We advised Shell on the sale of its retail fuel distribution operation in Panama to Petróleos Delta.
2011 – We advised Icatech Corporation on the sale of Corredor Sur, one of Panama City’s main highways, to Empresa Nacional de Autopistas, S.A. (ENA), a government entity, for approximately USD 420 million.
2015 – We advised PSA Panama International Terminal on the drafting, negotiation, and execution of a new contract-law with the Republic of Panama.
Fourth Decade
Fourth Decade – 2016 to 2025
2016 – We advised AES on the financing for the construction of a liquefied natural gas-based power plant.
2019 – We advised Banco Panamá in connection with its acquisition by Banco Aliado through a merger valued at USD 210 million.
2020 – We advised AES Panama Generation Holdings, S.R.L. in connection with a corporate bond issuance of up to USD 1.4 billion and a loan facility of up to USD 105 million.
2021 – We advised Cable & Wireless Panama and its shareholder and operating partner, Liberty Latin America, on the acquisition of Claro Panama.
2023 – We advised ENSA in the negotiation of its collective labor agreement with the union representing ENSA employees, ensuring a successful and harmonious process.
2024 – We advised Grupo Bancolombia and a group of banks on the structuring of a syndicated loan for the acquisition of Grupo Éxito by Grupo Calleja, a landmark transaction in the region.
2024 – We advised Intervial Chile in the public bidding process launched by the Ministry of Public Works for Panama’s first Public-Private Partnership (PPP). The project aimed to rehabilitate and improve 246 kilometers of the Eastern Pan-American Highway.
2025 – We advised CPKC and Lanco Group/Mi-Jack on the sale of Panama Canal Railway Company (PCRC) to APM Terminals. Since the start of the concession in 1998, we have provided legal counsel to PCRC in all aspects of its operations, reflecting our long-standing commitment and the trust our clients place in our firm.
2017 – We represented Desarrollo Turístico Buenaventura in the development of “Buenaventura,” the largest and most exclusive beach and golf resort in Panama.
2020 – We advised Grupo Aval on the acquisition of 96.6% of the shares of Multi Financial Group Inc., parent company of Multibank Panama.
2021 – Alcogal advised Tocumen International Airport on a bond issuance of USD 1.855 billion, the largest ever issued in Panama at the time, aimed at financing the airport’s expansion and modernization.
2022 – We advised Grupo APC on the majority sale of APC Buró to Experian, one of the world’s leading credit risk companies.
2023 – Asesoramos a ENSA como deudor en un préstamo sindicado por USD 100 millones otorgado por BID Invest y Scotiabank, destinado a ampliar el acceso a la electricidad en Panamá.
2024 – We advised Microserfin and Banco General on the structuring and placement of the first Social Bond issuance in Panama.
2025 – We acted as legal counsel to The Bank of Nova Scotia in the transfer of its banking operations in Colombia, Costa Rica, and Panama to Banco Davivienda, in a transaction that marks a milestone in the regional financial sector.
Our Mission
Our Vision
Our Values
Commitment to excellence: We seek perfection in everything we do.
Sense of urgency: We act quickly and efficiently.
Dedication: We are fully committed to our responsibilities.
Integrity: We act with honesty and transparency.
Respect: We value and respect all people.
Teamwork: We believe in collaboration and joint effort.
OUR PRINCIPLES
Guided by purpose. Driven by values.
Our mission, vision, and values define who we are and how we work. They guide our decisions, shape our culture, and reaffirm our commitment to our clients and our community.
Our Mission
Our Vision
We strive to maintain our excellence and leadership both locally and internationally. We prioritize our clients’ needs and adapt to new challenges and opportunities as we identify them.
Our Values
The principles that inspire our people and shape the way we serve.
Service vocation
We are dedicated to serving our clients with passion and commitment.
Commitment to excellence
We seek perfection in everything we do.
Sense of urgency
We act quickly and efficiently.
Dedication
We are fully committed to our responsibilities.
Integrity
We act with honesty and transparency.
Respect
We value and respect all people.
Teamwork
We believe in collaboration and joint effort.
Guided by purpose. Driven by values.
Our mission, vision, and values define who we are and how we work. They guide our decisions, shape our culture, and reaffirm our commitment to our clients and our community.
To provide our clients with quick and efficient solutions, always within the highest ethical and professional standards.
We strive to maintain our excellence and leadership both locally and internationally. We prioritize our clients' needs and adapt to new challenges and opportunities as we identify them.
The principles that inspire our people and shape the way we serve.
We are dedicated to serving our clients with passion and commitment.
We seek perfection in everything we do.
We act quickly and efficiently.
We are fully committed to our responsibilities.
We act with honesty and transparency.
We value and respect all people.
We believe in collaboration and joint effort.