Ferrere counsels Solar Ahorro y Finanzas on restructuring
Ferrere, through its team in Paraguay, has counselled Solar Ahorro y Finanzas in its transformation process into a bank, as well as in the change from S.A.E.C.A. to S.A.E.
This transaction was closed on 10 August, where the Central Bank of Paraguay (BCP), through Resolution No. 21, Act No. 45, authorised Solar’s corporate transformation and granted it the authorisation to start operations as a bank, a process that had been initiated in November 2020, following the decision of Solar’s extraordinary shareholders’ meeting to carry out the necessary procedures for the transformation.
The advisory services included assistance throughout the entire process, from the structuring of the steps to obtain the necessary authorisations from both the BCP and the National Securities Commission (CNV), and the compilation, preparation and organisation of the documentation required for such authorisations.
Solar Ahorro y Finanzas is a financial institution with more than 40 years in the Paraguayan market.
Ferrere’s team was led by partner Carlos Codas Zavala (pictured left), with support from associates Claudia Arietti, Pamela Lezcano Sachelaridi (pictured right) and Melissa Nathalie Rojas Plaz.
