Simpson Thacher on sale of Mercantil Colpatria’s remaining interest in Scotiabank Colpatria

Simpson Thacher has advised Mercantil Colpatria in connection with the sale of its remaining interest in Scotiabank Colpatria, Fiduciaria Scotiabank Colpatria and Scotiabank Securities Sociedad Comisionista de Bolsa to The Bank of Nova Scotia.

The agreement is part of a broader transaction involving the integration of The Bank of Nova Scotia’s operations in Colombia, Costa Rica and Panama with Davivienda. The transaction is subject to regulatory approval and is expected to close in the second half of 2025.

Mercantil Colpatria is a Colombian conglomerate with investments in Latin America in the following sectors: insurance, health, construction, infrastructure, mining, technology, logistics, energy and retail. Scotiabank Colpatria is one of the largest banks and credit card issuers in Colombia.

Simpson Thacher’s team comprises partners Todd Crider (pictured left) and Borja Marcos (pictured right), and associate Laura Ribero.