Arias advised the renowned insurance group Suramericana in the sale of the insurance company Asesuisa, which had belonged to Suramericana since 2012. The transaction consists of the sale of the shares of Asesuisa owned by Suramericana in favor of Ficohsa, a renowned financial group with a solid presence in the Central American region. The transaction is in the process of receiving the corresponding authorizations from the regulatory institutions of El Salvador.
Arias has advised Suramericana since the initial stages of the respective negotiations, being in charge of the legal structuring of the operation, as well as the preparation and negotiation of the respective stock purchase agreement (“SPA”) for the Asesuisa shares that belong to Suramericana.
Previously, Suramericana had sold its operations in Argentina, and now its operations in El Salvador, which represented 16% of the market in the country.
These negotiations represent important strategic ties between Honduras and El Salvador, where Ficohsa intends to strengthen its presence in the region throughout the operation of Asesuisa in El Salvador.
The SPA was officially signed on August 14 of this year.
Team involved
Partner: Ana Mercedes López, Arias El Salvador.
Leading Lawyers: Ana Mercedes López, Partner/Rafael Burgos, Senior Associate in Arias El Salvador