Morgan & Morgan acted as legal counsel to Venasty Assets Corp., a Panamanian investment group led by Juan E. Melillo and Sergi Lucas Fernández, in connection with the negotiation and signing of a private share subscription agreement through which Venasty agreed to subscribe a majority stake in Grupo Bandelta Holding Corp. (GBHC), the parent company of Banco Delta, S.A. and its subsidiaries.
The transaction, which is conditioned upon the approval of the Superintendency of Banks of Panama regarding the change of control, involves the subscription of newly issued common shares by GBHC, granting Venasty a controlling position in the entity.
The Morgan & Morgan team involved in this transaction included partner Francisco Arias G., senior associate Mónica Moreno, and international associate Miguel Arias M.