Arias counsels Crecer on AFP acquisition
Arias Law, through its office in El Salvador, has counselled, Centro Financiero Crecer, a member of Grupo Rizek in the Dominican Republic, on its acquisition of AFP Crecer, a subsidiary of Grupo Protección of Colombia, for a total of USD $60 million.
This acquisition marks the beginning of Grupo Rizek’s operations in El Salvador.
The advice involved support in all aspects of the transaction, from the initial due diligence process to the negotiation and signing of the final purchase agreement. The firm’s team also provided comprehensive legal advice on the complex regulatory approvals required for the transaction, including the implementation of a novel corporate structure.
Centro Financiero Crecer is a well-established financial institution with a strong track record in providing innovative and client-focused pension solutions. AFP Crecer, known for its financial excellence and stability, is a leading provider of pension fund management services.
Arias’ team consisted of partner Ana Mercedes López (pictured left) and senior associate Rafael Burgos (pictured right).
