Alcogal is acting as legal counsel to The Bank of Nova Scotia in the recent transaction involving transferring its banking operations in Colombia, Costa Rica, and Panama to Banco Davivienda.
The transaction is expected to be completed in approximately 12 months. Scotiabank will receive an approximate 20% stake in the new combined entity as part of the transaction.
The integration will strengthen Banco Davivienda, increase its total assets to approximately $60 billion, and enhance its position in the Latin American market.
Partners Arturo Gerbaud and Rita de la Guardia have led this comprehensive service, with the valuable support of associate Rafael Amar and the outstanding participation of partner Jorge Federico Lee, associate Leopoldo Padilla, and junior associate Victoria Castro.
This agreement represents a significant milestone in the regional banking landscape and underscores Alcogal's commitment to excellence in legal and financial advisory.