Consortium Acted as Counsel to Banco Davivienda for HSBC Buy
February, 2012 - San Salvador, El Salvador
Colombian bank Davivienda announced last Tuesday, January 24, its taking over the operation of HSBC in Costa Rica, El Salvador and Honduras for $801 million.
Consortium Centro América Abogados advised Banco Davivienda from Colombia during the legal Due Diligence process in El Salvador, Honduras and Costa Rica, with the purpose of acquiring the operations of HSBC in such jurisdictions which consist in banking, insurance and financial institutions.
Regulatory approvals are pending in each jurisdiction prior to closing the transaction.
The offices of Consortium in El Salvador and Honduras are members of WSG. Another member of WSG that participated in the transaction is the Panamanian firm Morgan & Morgan as counsels of HSBC.
