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Greenberg Traurig Oversees Sale
of Largest Costa Rican Private
Bank
The International law firm
Greenberg Traurig LLP served as
U.S. counsel to Corporación
Interfin, the holding company of
Banco Interfin, Costa Rica's
largest privately owned bank, in
its us$293.5 million sale to
Scotiabank, one of Canada's
largest financial institutions.
The sale, expected to be
completed in August, represents
only the third tender offer to
be arranged in Costa Rica, and
the second for a financial
institution. The combined entity
is expected to have nearly us$1.
6 billion in assets in Costa
Rica and us$1 billion in
deposits.
"We are happy to have reached a
deal that will be beneficial for
both parties, as they join
forces to reach a growing
customer base," said Greenberg
Traurig Corporate and Securities
Shareholder Mark I. Michigan of
the firm's New York City office.
"Making the deal so complex was
the fact that it involved not
only challenging Costa Rican,
Bahamian and Canadian regulatory
issues, but New York corporate
law issues as well," said Randy
A. Bullard, a Shareholder in the
firm's Miami office.
The deal represents the latest
in a series of recent M&A
transactions Greenberg Traurig
has handled for financial
intuitions in Central America.
Interfin, founded in 1979, has
24 branches and approximately
950 employees. Scotiabank has
been operating in Costa Rica
since 1995.
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