Alemán, Cordero, Galindo & Lee (Alcogal) is acting as legal advisor to The Bank of Nova Scotia in the recent transaction involving the transfer of its banking operations in Colombia, Costa Rica, and Panama to Banco Davivienda.
The transaction is expected to be completed in approximately 12 months. As part of the transaction, Scotiabank will receive approximately 20% interest in the new combined entity.
The integration will strengthen Banco Davivienda, increasing its total assets to around $60 billion and improving its position in the Latin American market.
This comprehensive service has been led by partners Arturo Gerbaud and Rita de la Guardia, with the valuable support of associate Rafael Amar and the outstanding participation of partner Jorge Federico Lee, associate Leopoldo Padilla, and junior associate Victoria Castro.
This agreement represents a significant milestone in the regional banking landscape and underscores Alcogal's commitment to excellence in legal and financial advice.