Milbank LLP Advised Inversiones Cuscatlán On Acquisition Of Banitsmo From Grupo Cibest Share

Milbank LLP Advised Inversiones Cuscatlán on Acquisition of Banitsmo from Grupo Cibest Share

Milbank LLP is advised Inversiones Cuscatlán Centroamérica S.A. (“Inversiones Cuscatlán”) in connection with its acquisition of Banitsmo, S.A. (“Banistmo”) from Grupo Cibest S.A. Closing of the transaction is subject to regulatory approvals and the satisfaction of other customary closing conditions. Milbank is also advise Inversiones Cuscatlán on a senior secured term loan facility and a senior secured bridge term loan facility to finance part the acquisition.

Banitsmo is one of Panama’s leading banks, offering a wide range of financial services under the supervision of the Superintendency of Banks of Panama. Inversiones Cuscatlán is a Panamanian company that holds a portfolio of banking and insurance businesses in Central and South America, including Banco Cuscatlán in El Salvador, Guatemala and Honduras, Seguros e Inversiones S.A. (SISA) in El Salvador and Guatemala, Banco La Hipotecaria in Panama, La Hipotecaria, S.A. de C.V. in El Salvador and La Hipotecaria Compañía de Financiamiento, S.A. in Colombia.

“We are proud to be advising Inversiones Cuscatlán on this landmark transaction, which underscores Milbank’s market-leading capabilities advising on complex, high-value M&A transactions across Latin America,” said Milbank Global Corporate/M&A partner Francisco Nuñez.

Marcelo Mottesi, chair of Milbank’s Corporate Finance and Securities practice and co-head of the firm’s Latin America group, added, “This transaction highlights the trust our clients place in Milbank to advise them on some of the region’s most sophisticated and high-profile transactions and the firm’s long-standing commitment to Latin America.”

The Milbank LLP team was led by Francisco Nuñez (Partner), and Gabe Carolan (Associate). The Milbank Corporate Finance and Securities team was led by Marcelo Mottesi (Partner), and Gonzalo Guitart (Special Counsel). The Milbank team also included Global Corporate/M&A Scott Golenbock (Partner), and Fernando Vial Comber (International Attorney), Intellectual Property John Garces (Special Counsel), Corporate Finance and Securities Marco Zaldivar (Associate), Max Goodman (Tax Partner), and Jesse Hong (Associate), and Global Risk & National Security Bijan Ganji (Partner), and Pinky Mehta (Associate).

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