Arturo Gerbaud, Rita de la Guardia, Roberto Vidal, Ana Carolina Castillo, José Rafael Reyes

Alcogal and Morimor in Scotiabank’s transfer to Davivienda

Alemán Cordero Galindo & Lee has advised The Bank of Nova Scotia (Scotiabank) in the recent transaction involving the transfer of its banking operations in Colombia, Costa Rica and Panama to Banco Davivienda. Morgan & Morgan acted as legal advisor to Banco Davivienda Panama.

The transaction is expected to be completed in approximately 12 months, as it is subject to the respective approvals from the regulators in each of the jurisdictions, which are expected to be obtained in the second half of 2025.

As part of the transaction, Scotiabank will receive an approximate 20% stake in the new combined entity.

The integration will strengthen Banco Davivienda, increasing its total assets to around $60 billion and enhancing its position in the Latin American market.

Alcogal’s team was led by partners Arturo Gerbaud (pictured top left) and Rita de la Guardia (pictured top right), with the support of associate Rafael Amar and the participation of partner Jorge Federico Lee, associate Leopoldo Padilla and junior associate Victoria Castro.

Morimor’s team was composed of partners Roberto Vidal (pictured bottom left), Ana Carolina Castillo (pictured bottom centre), José Rafael Reyes (pictured bottom right), Sophia Lee, and associates Ariana Linares, Angélica Ortiz, David Ramos, Katia Pallares, Arantxa Fernández, and Perla Piña.

L Giselle Estrada

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