Alcogal acted as legal counsel to Grupo Mundial Tenedora, S.A. and Banco Panameño de la Vivienda, S.A. (Banvivienda) in the exchange process of up to 34,000,000 non-accumulative preferred shares without voting rights of Banco Panameño de la Vivienda, S.A. (Banvivienda) for non-accumulative preferred shares without voting rights of Grupo Mundial Tenedora, S.A.
The exchange process was done through the Panama Stock Exchange, where we played a key role since exchange proceedings are complex and uncommon in the Panamanian market.
The transaction closed in July 2017.
Partner Arturo Gerbaud, along with associate Rafael Marquínez, were in charge of this transaction.