Alcogal acted as legal advisor to Grupo Cibest S.A. in connection with the execution of a promise to purchase and sell agreement for the sale of 100% of the shares of Banistmo, S.A., one of Panama’s most significant financial institutions.
The transaction was agreed with Inversiones Cuscatlán Centroamérica S.A., a financial group with a strong regional presence and participation in banking and insurance businesses in Panama, El Salvador, Guatemala, Honduras, and Colombia. The transaction perimeter includes Banistmo and all of its subsidiary companies.
The closing of the transaction is subject to the fulfillment of customary conditions precedent for transactions of this nature, as well as the receipt of the relevant regulatory approvals.
The transaction was led by our partners Arturo Gerbaud, Rafael Marquínez, and Patricia Cordero, who provided comprehensive legal advice throughout the entire process.
At Alcogal, we continue to advise on highly complex, large-scale transactions that set important milestones in the financial and corporate sectors of the region.