ARIAS served as legal counsel to Centro Financiero Crecer, S.A., a member of Grupo Rizek in the Dominican Republic, in its acquisition of AFP Crecer, S.A., a subsidiary of Proteccion, a Colombian Group, for a total of US$60 million.
The acquisition represents a significant milestone for the country, marking the beginning of Grupo Rizek's operations in El Salvador. Centro Financiero Crecer, S.A. is a well-established financial institution with a strong track record of providing innovative and customer-centric pension solutions. AFP Crecer, S.A., known for its excellence and financial stability, is a leading provider of pension fund administration services.
Our team at ARIAS played a pivotal role in advising Centro Financiero Crecer, S.A. on all aspects of the transaction, from the initial due diligence process to the negotiation and signing of the definitive purchase agreement. The firm's team also provided comprehensive legal counsel on the complex regulatory approvals required for the transaction, including the implementation of a novel corporate structure.
"We are delighted to have advised Centro Financiero Crecer, S.A. on this landmark transaction," said Ana Mercedes López, Partner at ARIAS. " We are confident that it will create significant value for both Centro Financiero Crecer, S.A. and its customers."
"I would like to congratulate our client, this is a tremendous accomplishment, and it reflects the strategic vision, leadership, and dedication of their entire team." said Rafael Burgos, Senior Associate at ARIAS.
Congratulations to our client Centro Financiero Crecer, S.A. and thank you for trusting your important matters to our firm.
Big congratulations to our team, Ana Mercedes López, Partner and Rafael Burgos, Senior Associate for your amazing work.