Aleman, Cordero, Galindo & Lee, through the joint effort of its Telecommunications and Corporate and 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 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.
Corporate Law Firm in Panama
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 corporate law firm in Panama 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).
Cable and Wireless Panama
Cable and Wireless Panama is jointly owned by Cable & Wireless, and the Government of the Republic of Panama which each have a 49% stake, with the remainder held by a trust on behalf of its employees.
CWC has embarked on Project Marlin, a US$1-billion three-year investment-led strategy, to upgrade its networks and enhance its offer to customers. Within B2B, improved core connectivity opens opportunities to add IT services and telecoms solutions – Grupo Sonitel’s specialist area of expertise.
Bringing together CWP’s networks, connectivity expertise, and customer scale, with Grupo Sonitel’s end-to-end managed services and solutions creates a market-leading proposition for customers in Panama.
There are also opportunities to grow the business in El Salvador, as well as in Peru, Nicaragua and the Caribbean markets where CWC is the leading provider of telecoms services to businesses. Combining the most extensive MPLS and international connectivity network in the region, with Grupo Sonitel’s capabilities, provides further growth opportunities.
For more information about our practices as corporate law firm in Panama, contact us.