Consortium advises Davivienda on HSBC takeover
More evidence of sophisticated deal-making in the region, with last week’s takeover by Colombia’s Davivienda group of HSBC operations in Costa Rica, El Salvador and Honduras.
Consortium offices were legal advisors on the deal, worth $800 million, which involved regulators in all three countries, along with Colombia, Davivienda’s home state, and Panama, headquarters of HSBC Central America.
HSBC will continue to operate in Panama.
In addition, Davivienda in Costa Rica registered an affiliated company - insurer Seguros Bolivar.
Costa Rican is the first country, in which Bolivar operates, besides Colombia.
The acquisition also involves a huge rebranding program, as Davivienda in less than a week replaced the HSBC image in hundreds of locations.
For more información, please contact Mario Quesada Bianchini at [email protected], or (506) 2257 3553.