Alcogal advised Grupo Aval in its corporate reorganization process

Alcogal advised Grupo Aval in its corporate reorganization process. This reorganization resulted in the spinoff of a 75% equity stake in its indirect subsidiary BAC Holding International Corp. (BHI), in favor of its shareholders and the shareholders of Banco de Bogota (prior to the spinoff, the direct owner of BHI).

BHI is the Panamanian holding company that owns, directs and supervises the several banking and financial services of BAC in Panama and Central America.

The team of lawyers at Alcogal played an essential role in all aspects of Panamanian law from the corporate, banking, and securities perspectives. In addition to advising with the registration of BHI’s common shares in the Superintendence of Capital Market and their listing in the Latin American Stock Exchange, Alcogal actively participated in the negotiation and execution process of an agreement between Central Latinoamericana de Valores, S.A. and the Central Deposit of Colombian Securities. This agreement allows BHI’s shares to be traded simultaneously on the Panama and Colombia stock exchanges, something completely innovative in our capital market.

Partners Arturo Gerbaud and Rafael Marquínez participated in this transaction.