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  2. Mergers and Acquisitions 2007
  3. Mergers and Acquisitions 2007

Mergers and Acquisitions 2007

  1. By means of Resolution S.B.P. 011-2007 dated 15 February 2007, CITIBANK OVERSEAS INVESTMENT CORPORATION was authorized to acquire all issued and outstanding shares of GRUPO FINANCIERO UNO, S.A. and BANCO UNO, S.A.
  2. By means of Resolution S.B.P. 012-2007 dated 15 January 2007, BANCO PANAMEÑO DE LA VIVIENDA, S.A. was authorized to acquire fifty-one percent (51%) of the issued and outstanding shares of GIROS & FINANZAS COMPAÑÍA DE FINANCIAMIENTO COMERCIAL, S.A.
  3. By means of Resolution S.B.P. 026-2007 dated 19 March 2007, BANCO GENERAL, S.A. was authorized to transfer all of its issued and outstanding shares to BG HOLDINGS, INC.
  4. By means of Resolution S.B.P. 031-2007 dated 23 March 2007, HSBC BANK (PANAMÁ), S.A. and GRUPO BANISTMO, S.A. were authorized to execute a Merger by absorption, resulting in HSBC BANK (PANAMÁ), S.A. being the surviving company.
  5. By means of Resolution S.B.P. 033-2007 dated 27 March 2007, BANCOLOMBIA (PANAMÁ), S.A. was authorized to acquire up to 100% of the common and outstanding shares of BANAGRÍCOLA, S.A.
  6. By means of Resolution S.B.P. 037-2007 dated 11 April 2007, BANCO DAVIVIENDA, S.A. was authorized to acquire up to 99% of the issued and outstanding shares of GRANBANCO, S.A.
  7. By means of Resolution S.B.P. 042-2007 dated 23 April 2007, CITIBANK INVESTMENT CORPORATION was authorized to acquire all issued and outstanding shares of GRUPO CUSCATLÁN PANAMÁ, S.A.
  8. By means of Resolution S.B.P. 055-2007 dated 8 May 2007, CREDOMATIC INTERNATIONAL CORPORATION was authorized to acquire 99.90838% of the capital stock of BANCO MERCANTIL, S.A. (BAMER), and 99.99% of the capital stock of CASA DE VALORES MERCANTIL, S.A. (MERVALORES), which are members of GRUPO FINANCIERO BAMER.
  9. By means of Resolution S.B.P. 062-2007 dated 21 May 2007, ST. GEORGES BANK & COMPANY, INC. was authorized to absorb by means of an Absorption Merger Agreement, all property, assets, obligations, and liabilities, regardless of type, nature or description, whether existent or contingent, as well as all paid-in capital, reserves, retained revenue and any other holdings of PROMERICA, S.A., which will be dissolved.
  10. By means of Resolution S.B.P. 074-2007 dated 31 May 2007, MULTI CREDIT BANK, INC. was authorized to acquire up to 70% of the issued and outstanding shares of MACROFINANCIERA, S.A. COMPAÑÍA DE FINANCIAMIENTO COMERCIAL.
  11. By means of Resolution S.B.P. 077-2007 dated 5 June 2007, BANCO CONTINENTAL DE PANAMÁ, S.A. was authorized to assume by means of a Merger Agreement dated April 27, 2007, all assets, property, rights, privileges, powers, franchises, liabilities and obligations of BANCO ALEMÁN PLATINA, S.A., CARCLE, S.A., DOTHAN FINANCE, INC. and TRI-MOON INVESTMENTS, INC., all four of which will be dissolved as legal entities.
  12. By means of Resolution S.B.P. 080-2007 dated 12 June 2007, GE EMERALD INC. was authorized to acquire up to 100% of the issued and outstanding shares of BANCO COLPATRIA-RED MULTIBANCA COLPATRIA, S.A.
  13. By means of Resolution S.B.P. 088-2007 dated 15 June 2007, BANCOLOMBIA (PANAMÁ), S.A. was authorized to acquire up to 100% of the issued and outstanding shares of BIENES Y SERVICIOS, S.A.
  14. By means of Resolution S.B.P. 089-2007 dated 15 June 2007, CORPORACIÓN TENEDORA BAC SAN JOSÉ SOCIEDAD ANÓNIMA was authorized to acquire 100% of the issued and outstanding shares of CORPORACIÓN FINANCIERA MIRAVALLES, SOCIEDAD ANÓNIMA and RECAUDADORA COSTA RICA, S.A. (RECSA).
  15. By means of Resolution S.B.P. 102-2007 dated 13 July 2007, BANCOLOMBIA (PANAMÁ), S.A. was authorized to assume by means of a Merger Agreement all assets, property, rights, privileges, powers, franchises, liabilities and obligations of SULEASING INTERNACIONAL, S.A., which will be dissolved.
  16. By means of Resolution S.B.P. 114-2007 dated 8 August 2007, a merger by absorption was of CORPORACIÓN FINANCIERA MIRAVALLES, S.A., RECAUDADORA COSTA RICA, S.A (RECSA) and BANCO BAC SAN JOSÉ, S.A., was authorized, with the latter remaining as the surviving company.
  17. By means of Resolution S.B.P. 128-2007 dated 5 September 2007, a merger by absorption of BANCO GENERAL, S.A. and BANCO CONTINENTAL DE PANAMÁ, S.A. was authorized, under which the former will remain as the surviving company.
  18. By means of Resolution S.B.P. 141-2007 dated 18 September 2007, a merger by absorption of BANCO DAVIVIENDA, S.A. and GRANBANCO, S.A., was authorized, under which the former remains as the surviving company.
  19. By means of Resolution S.B.P. 144-2007 dated 21 September 2007, INTERIM INVESTMENT, INC. was authorized to acquire 25.92% of the capital stock of BANCO DE FINANZAS (INTERNACIONAL), S.A.
  20. By means of Resolution S.B.P. 145-2007 dated 24 September 2007, (i) CORPORACIÓN G&T CONTINENTAL, S.A. was authorized to acquire 99.9447% of the paid-in capital shares of BANCO DE EXPORTACIÓN, S.A. and (ii) the merger by absorption of BANCO DE EXPORTACIÓN, S.A. and BANCO G&T CONTINENTAL, S.A., whereby the latter remains as the surviving company, was authorized.
  21. By means of Resolution S.B.P. 151-2007 dated 28 September 2007, VLADIMIR ANTONOV was authorized to acquire no less than 70% of the issued and outstanding shares of BANCO TRASATLÁNTICO, S.A. currently under the control of Pupkin International, Inc.
  22. By means of Resolution S.B.P. 175-2007 dated 13 November 2007, BANCO DE CRÉDITO HELM FINANCIAL SERVICES (PANAMÁ), S.A. was authorized to acquire 5.9999% of the issued and outstanding shares of LEASING DE CRÉDITO, S.A.
  23. By means of Resolution S.B.P. 180-2007 dated 16 November 2007, HSBC ASIA PACIFIC HOLDINGS (UK) LIMITED was authorized to acquire at least 51.02% of the issued and outstanding capital stock that LFS KEB HOLDINGS SCA has in KOREA EXCHANGE BANK, LTD.
  24. By means of Resolution S.B.P. 191-2007 dated 4 December 2007, the merger by absorption agreement between BANCO UNO, S.A. and BANCO CUSCATLÁN DE PANAMÁ, S.A., whereby the latter will remain as the surviving company, was authorized.
  25. By means of Resolution S.B.P. 219-2007 dated 28 December 2007, the transfer of all currently issued and outstanding common shares of MULTI CREDIT BANK, INC. to MULTI FINANCIAL GROUP, INC., was authorized.
  26. By means of Resolution S.B.P. 220-2007 dated 28 December 2007, the merger by absorption between BANCO DE AMÉRICA CENTRAL HONDURAS, S.A. and BANCO MERCANTIL, S.A., whereby the latter will remain as the surviving company, was authorized.