We advised Grupo Cibest S.A., the Colombian financial holding company, parent company of Bancolombia and selling shareholder of Banistmo S.A., one of Panama’s leading banks with more than 600,000 clients, throughout the process that culminated, on June 30, 2026, in the closing of the sale of 100% of the shares of Banistmo and all of its subsidiaries, including Leasing Banistmo, S.A. and Banistmo Investment Corporation, S.A., to Banco La Hipotecaria, S.A., an entity of Grupo Financiero BSC, formerly Inversiones Cuscatlán Centroamérica, S.A. This transaction stands as one of the most significant in Panama’s financial market in recent years.
Under the leadership of our partners Patricia Cordero and Rafael Marquínez, we provided comprehensive legal counsel on the structuring, negotiation, and closing of the transaction, from the announcement of the agreement in December 2025 through to its completion, as well as on the fulfillment of conditions precedent and the coordination of regulatory approvals before the Superintendency of Banks of Panama.