Aleman, Cordero, Galindo & Lee, through the joint effort of its Telecommunications and Corporate / M&A teams, advised Cable & Wireless Panama, S.A., a subsidiary of Cable & Wireless Communications, Plc (CWC), in the acquisition of 12 corporations within Grupo Sonitel for US$41,280,000.
The deal, which was announced in August 2014, included the acquisition of subsidiaries SSA Sistemas, a provider of comprehensive IT solutions and telecommunication services to public and private entities in Panama, El Salvador, Nicaragua and Peru, and Sonset, a provider of IT solutions and services to small and medium enterprises in Panama, among others. Other companies within Grupo Sonitel, including Logistica, a hardware reseller, were excluded from the deal.
Our team in charge of this transaction was led by partners Raul Borrell and Alejandro Ferrer. Associate Rita de la Guardia assisted them in this project. Cable & Wireless Panama, S.A. has been a client of our firm for over 15 years. In this transaction, we advised them through every phase, including conducting the due diligence of all the companies involved and drafting and negotiating the Stock Purchase Agreement (SPA). We congratulate our client on this great accomplishment, which will allow it to expand its presence in Latin America and to broaden the range of services it offers its clients.