BLP advises Davivienda in Scotiabank’s Acquisition in Costa Rica
 

In a significant move within the financial sector, BLP provided comprehensive legal counsel to Banco Davivienda during the acquisition and integration of Scotiabank’s operations in Costa Rica. This transaction, encompassing banking, insurance, and leasing businesses, highlights BLP’s expertise in navigating complex mergers and acquisitions in the region.

This agreement is part of Davivienda’s strategic expansion plan, through which it has agreed with The Bank of Nova Scotia (Scotiabank Canada) to integrate Scotiabank’s operations in Colombia, Costa Rica, and Panama.

BLP’s Role in the Transaction

BLP’s multidisciplinary team supported Davivienda throughout the transaction, delivering strategic advice in key areas, including:

Due Diligence: Conducting an in-depth evaluation of Scotiabank’s operations in Costa Rica to ensure a thorough understanding of assets, liabilities, and regulatory requirements.

Drafting and Reviewing the Transaction Agreement: Providing expert legal support in preparing and negotiating the terms of the agreement.

Regulatory Advisory: Guiding Davivienda through the regulatory landscape to secure compliance and facilitate a seamless acquisition.

Key Team Members:

The project was led by a distinguished team of partners and professionals:

Partners: Uri Weinstok, Vivian Liberman, Eduardo Calderón.

Director: Elia Naranjo.

Additional contributions came from a robust team of experts across multiple practice areas:

Corporate/M&A: Ignacio Alonso, Diego Quirós, and Elena Foltran.

Tax: Vittoria di Gioacchino and Isis Ulloa.

Banking & Finance: Andrés López

Insurance: Neftalí Garro and Juan José López.

Labor Law: Alexandra Aguilar and Catalina Conejo.

Intellectual Property: León Weinstok.

Dispute Resolution: Alejandro Goicuría.

This transaction reinforces Banco Davivienda’s position in Costa Rica’s financial market and sets a new standard for cross-border acquisitions in the region. BLP’s involvement underscores its commitment to delivering comprehensive legal solutions tailored to the complexities of high-value transactions.

As a leading law firm in Central America, BLP continues to support its clients in achieving their strategic goals through innovative and effective legal counsel.

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