Estif Aparicio

Ranked in 4 Practice Areas

Band 1

Banking & Finance

Panama

15 Years Ranked

Band 1

Capital Markets

Panama

14 Years Ranked

Band 2

Corporate/M&A

Panama

17 Years Ranked

Band 3

Projects & Energy

Panama

6 Years Ranked

Ranked in Guides

Global 2025

About

Provided by Estif Aparicio

Latin America

Practice Areas

Antitrust, trade and competition; banking and finance; M&A; capital markets; and tax.

Career

Joined ARIFA in 2000 and became a partner in 2011. Member of the ARIFA’s Executive Committee. Heads the Capital Markets & Banking, the Taxation, and the Regulatory Work Practice Groups.

From 2004 to 2006, served the Panamanian government as Chief Trade Negotiator of all bilateral and multilateral free trade agreements.

From 2006 to 2007, Mr. Aparicio worked for the law firm of Sullivan & Cromwell LLP in New York, participating in capital markets, M&A and project finance transactions.

Professional Memberships

International Bar Association, International Fiscal Association, Lex Mundi, Interlaw

Chambers Review

Provided by Chambers

Latin-America

Capital Markets - Panama

Band 1

Individual Editorial

Outstanding partner Estif Aparicio continues to be held in the highest esteem by commentators for his involvement and expertise in capital markets. He is frequently seen advising on high-stakes bond offerings and private placements on the Panama Stock Exchange.

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Banking & Finance - Panama

Band 1

Individual Editorial

Pre-eminent partner Estif Aparicio continues to offer a market-leading practice assisting clients with project finance, as well as with the acquisition and divestiture of banking assets. He is held in the highest esteem by interviewees in Panama.

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Corporate/M&A - Panama

Band 2

Individual Editorial

Well-regarded partner Estif Aparicio is endorsed by market interviewees for his strong skills in the Panamanian corporate and M&A arenas.

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Projects & Energy - Panama

Band 3

Individual Editorial

Noteworthy partner Estif Aparicio boasts extensive expertise advising high-profile clients from the construction and financial services industries on the financing, construction and development of infrastructure and energy projects in Panama.

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Contributions

Latest contributions provided by Estif Aparicio

Global Practice Guide

Corporate Governance 2024
Panama | Law and Practice

Authored by

Estif Aparicio, Javier Yap Endara

Article • May 2024

Strengths

Provided by Chambers

Estif Aparicio is a very receptive person. He listens, analyses and proposes a solution. Estif is a complete professional who tries to help his clients to achieve their projects and be successful.

Capital Markets respondent
Latin-America

Estif Aparicio is a lawyer with broad experience and knowledge in capital markets. He has an eye for strategies in this field, and is always up to date and looking ahead.

Capital Markets respondent
Latin-America

Estif Aparicio exhibits an excellent level of professionalism and attention to detail.

Banking & Finance respondent
Latin-America

Estif Aparicio guides us through Panamanian law and regulations, showing us how to deal with situations.

Banking & Finance respondent
Latin-America

Estif Aparicio is a very professional, committed lawyer and a great human being.

Corporate/M&A respondent
Latin-America

Estif Aparicio has an excellent commercial vision of the financial and energy market. His vast experience in complex local and cross-border transactions gives him an additional edge of sophistication.

Projects & Energy respondent
Latin-America

Estif Aparicio is a very receptive person. He listens, analyses and proposes a solution. Estif is a complete professional who tries to help his clients to achieve their projects and be successful.

Capital Markets respondent
Latin-America

Estif Aparicio is a lawyer with broad experience and knowledge in capital markets. He has an eye for strategies in this field, and is always up to date and looking ahead.

Capital Markets respondent
Latin-America

Estif Aparicio exhibits an excellent level of professionalism and attention to detail.

Banking & Finance respondent
Latin-America

Estif Aparicio guides us through Panamanian law and regulations, showing us how to deal with situations.

Banking & Finance respondent
Latin-America

Estif Aparicio is a very professional, committed lawyer and a great human being.

Corporate/M&A respondent
Latin-America

Projects & Energy respondent
Latin-America

Articles, highlights and press releases

6 items provided by Arias, Fábrega & Fábrega

Highlight

Empresa Panameña de Alimentos, S.A. acquires Gold Mills de Panamá, S.A.

ARIFA acted as lead counsel to it’s long time client Empresa Panameña de Alimentos, S.A., in regards to the indirect acquisition of Gold Mills de Panamá, S.A., a leading wheat and foodstuffs supplier and distributor in Panamá.

Jul 4, 2022

Authored by Estif Aparicio, Melissa Del Busto, Andrés Rubinoff, Javier Yap Endara, Carin Stelp, Ana Isabel Quijano, Jennifer Sales, Ana Melissa Torres, Jazmín Solís

Highlight

A first-of-its-kind transaction to increase housing finance and support women-owned businesses

US$90 million unsecured loan facility to Global Bank aimed at increasing housing finance for women and support women-owned businesses in Panama.

Sep 27, 2021

Authored by Estif Aparicio, Fernando Arias F., Daniela Delvalle

Highlight

Financing of Line 3 of the Panama Metro, the largest public infrastructure project in Panama

ARIFA advised ECAs and banks in connection with a US$ 2,264,037,941.16 and JP¥ 51,458,523,871.00 receivables purchase facility and related credit facilities agreements for the financing of Line 3 of the Panama Metro System.

Sep 27, 2021

Authored by Estif Aparicio, Cedric Kinschots, Javier Yap Endara, Jazmín Solís, Daniela A. Delvalle

Press Release

Estif Aparicio, new Senior Vice-Chair of the IBA Latin American Regional Forum

Arias, Fábrega & Fábrega is pleased to announce that the International Bar Association (IBA) has appointed Partner Estif Aparicio as 2020-2021 Senior Vice-Chair of the Latin American Regional Forum (LARF).

Mar 12, 2020

Authored by Estif Aparicio

Article

Panama Law on Public-Private Partnerships

Panama’s National Assembly has enacted Law No. 93 of September 19, 2019 on Public Private Partnerships, in an effort to bolster infrastructure investment and job creation as well as address ongoing public infrastructure needs.

Feb 10, 2020

Authored by Estif Aparicio

Article

Country by Country Report – Panama adopts new tax compliance report

In 2016, Panama adopted the implementation of the recommendations made by the G20 countries and the OECD on the application of BEPS and committed to implementing action 13, which addresses the strengthening of the Transfer Pricing Documentation Standards and the Country-by-Country (CbC) report.

Feb 3, 2020

Authored by Estif Aparicio

Highlight

Empresa Panameña de Alimentos, S.A. acquires Gold Mills de Panamá, S.A.

Jul 4, 2022

Authored by Estif Aparicio, Melissa Del Busto, Andrés Rubinoff, Javier Yap Endara, Carin Stelp, Ana Isabel Quijano, Jennifer Sales, Ana Melissa Torres, Jazmín Solís

Highlight

A first-of-its-kind transaction to increase housing finance and support women-owned businesses

US$90 million unsecured loan facility to Global Bank aimed at increasing housing finance for women and support women-owned businesses in Panama.

Sep 27, 2021

Authored by Estif Aparicio, Fernando Arias F., Daniela Delvalle

Highlight

Financing of Line 3 of the Panama Metro, the largest public infrastructure project in Panama

Sep 27, 2021

Authored by Estif Aparicio, Cedric Kinschots, Javier Yap Endara, Jazmín Solís, Daniela A. Delvalle

Press Release

Estif Aparicio, new Senior Vice-Chair of the IBA Latin American Regional Forum

Mar 12, 2020