
Corporate/M&A
Latin America Guide 2026 : Panama
Rankings

Ranked Individuals
Ranked Individuals
About
Provided by Alfaro, Ferrer & Ramírez
AFRA has a very active Corporate/M&A practice, and regularly advises on both sides, purchaser and seller. The firm's services start right from the kick off, organizing, advising and participating in complex due diligence processes, structuring and managing data rooms, delivering due diligence reports and assessing potential liabilities. Our team has earned a reputation for its ability to draft, structure and negotiate complex transactional documents, such as purchase agreements (both in share deals and asset deals), shareholders' agreements and ancilliary agreements, including non-compete arrangements, escrow agreements to cover for potential price adjustments, non-disclosure obligations, and so forth.
Recent work includes high profile banking transactions, such as the purchase of Banvivienda by Global Bank and the acquisition of Banco Panama by Banco Aliado. Our Corporate/M&A team also assisted in the acquisition of a controlling participation by Dollarama in Dollarcity, the sale of Centro Médico Paitilla to Grupo Hospiten, the purchase of department store Felix B. Maduro by Grupo Arrocha and Diunsa, and the purchase of a majority participation in Supermercados Xtra by Southern Cross Group, an international private equity fund.
Another high profile case that kept our attorneys busy was advising Kingsland Holdings Limited on its role as Independent Third Party and second largest shareholder on Avianca Holdings, S.A.
Clients (24)
- Global Bank Corporation
- L’Oreal
- Port of Singapore Authority (PSA)
- Balboa Academy
- Abbott
- Arcos Dorados
- AbbVie
- Vopak
- Riu Hotels
- adidas
- Hasbro
- Hilti Latin America
- China Construction America (CCA)
- Accenture
- Prada
- Ricoh Latin America
- Grand Bay Paper & Care Products
- Telefonica
- PEPSICO
- Red Bull
- The Western Union Company
- Cinemark
- Stanley Black & Decker
- The Rohatyn Group
Industries (17)
- Banking & Finance
- Insurance
- Tourism & Hospitality
- Oil & Gas
- Retail
- Aviation
- Real Estate
- Energy
- Financial Institutions
- Pharmaceutical
- Cosmetic & Fragance
- Manufacturing & Distribution
- Paper Tissue
- Construction
- High Equipment & Machinery
- Food & Beverage
- Educational Institutions
Chambers Review
Provided by Chambers
Work Highlights
Provided by Chambers
Alfaro, Ferrer & Ramírez acted as lead counsel to LP Restaurant Operations on the sale and transfer of all its restaurants to Grupo Vierci.
Strengths
Provided by Chambers
Alfaro, Ferrer & Ramírez stands out for its exceptional customer service, as well as its technical and analytical capabilities. Its close engagement with the client makes the firm a trusted adviser.
Corporate/M&A respondentLatin AmericaAFRA's corporate department is distinguished by its extensive expertise in cross-border transactions and their creativity in proposing solutions. It is a proactive and hands-on team.
Corporate/M&A respondentLatin America
Notable Practitioners
Provided by Chambers
Senior Statespeople 
Senior Statespeople 
Alfredo Ramírez Jr
Seasoned practitioner Alfredo Ramírez Jr has a longstanding presence in Panama's corporate field.
Alfredo Ramírez Jr is an agile, intelligent, respectful and reliable lawyer, with strong skills in interpreting both the law and business matters.
Corporate/M&A respondentLatin America
Band 2 
Band 2 
Alejandro Alemán
Distinguished partner Alejandro Alemán is well placed to assist clients across a variety of corporate matters, including M&A transactions, spin-offs and shareholder agreements. Alejandro Alemán's calm personality transmits peace of mind. He knows how to convey ideas and helps us understand what is going on in the cases, adding also the business perspective.
Corporate/M&A respondentLatin America
Up and Coming 
Up and Coming 
Ricardo Moreno
Up-and-coming partner Ricardo Moreno garners recognition from clients and peers alike for his involvement in the Panamanian corporate sphere.
Ricardo Moreno stands out for consistently going the extra mile and offering creative solutions to complex issues.
Corporate/M&A respondentLatin America
Ranked Individuals at Alfaro, Ferrer & Ramírez (3)
Members
Provided by Alfaro, Ferrer & Ramírez

Roberto Harrington Arango

Ricardo Moreno

Juan Antonio Alfaro


Luis R López Alfaro
Head of Department

Alejandro Alemán
View profile of Alejandro Alemán
Ricardo Moreno
View profile of Ricardo Moreno
Alfaro, Ferrer & Ramírez has rankings in the following guides
Band 1
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