Alcogal advised Banco Panamá in connection with its acquisition by Banco Aliado by way of a merger between Grupo Centenario de Inversiones, the owner of 100% of the shares of Banco Panama, with Allied Pacific, a subsidiary of Banco Aliado, with Allied Pacific being the resulting entity in a transaction that is worth US$210 million.

The transaction is pending regulatory approvals and is expected to close Q3 2019.

When the acquisition is finalized, Banco Aliado will become the fourth largest bank of Panamanian capital, with assets over US$4 billion, US$400 million of net worth and 10 branches that serve about 14,000 clients.

Our team in charge of this transaction was led by partner Eloy Alfaro B. and associate Rita de la Guardia.

About Banco Aliado

Banco Aliado is a wholly-owned subsidiary of Grupo Aliado, S.A., a holding company incorporated in the Republic of Panama in 1992, in order to actively participate in the international financial center that operates in this country.

The shareholding of Banco Aliado is composed of a group of businessmen with diversified investments in different branches of the national economy.

About Banco Panama

Banco Panama started operations in 2008 with a capital of US$30 million, now the bank has assets of US$87,146,365.

The bank is 100% Panamanian owned with 7 branches with a focus on an excellent customer service.

About Alcogal- Corporate and M&A law firm in Panama

Alcogal, as corporate and M&A law firm in Panama, advises public and private corporations, financial institutions, investment banks, and government entities from around the world on almost any type of transaction or corporate matter. Our lawyers in Panama take a very pragmatic approach to our clients´ needs: we seek to add value in any and every facet of our clients´ businesses.

Our clients rely on our advice to help understand and assess these options and execute their most complex transactions.

Clients value our innovative approach and the high degree of individualized attention. Our goal is to deliver superior service, earn your trust and build our relationship.

Contact us for information about us as corporate and M&A law firm in Panama