Arias Law, through its team in El Salvador, has advised Suramericana on the sale of shares in the insurance company Asesuisa, owned by Suramericana since 2012, to the financial group Ficohsa.
The purchase agreement was signed on 14 August. The transaction is in the process of receiving the corresponding regulatory authorisations from El Salvador’s regulatory institutions.
The advisory work involved accompanying the company from the initial stages of the respective negotiations, taking care of the legal structuring of the operation, as well as the drafting and negotiation of the respective sale and purchase agreement for the Asesuisa shares belonging to Suramericana.
Previously, Suramericana had sold its operations located in Argentina, and now its operations in El Salvador, which represented 16% of the market in the country. These negotiations represent important strategic links between Honduras and El Salvador, where Ficohsa intends to strengthen its presence in the region through the operation of Asesuisa in El Salvador.
Arias’ team was led by partner Ana Mercedes López (pictured left), together with senior associate Rafael Burgos (pictured right).