Morgan & Morgan advised the shareholders of Unity Group in a corporate restructuring and subsequent sale of its business to Willis Europe B.V.

Panama, March 12, 2020. Morgan & Morgan advised  the shareholders of Unity Group, a holding company with subsidiaries engaged in insurance brokerage in Central America with operations in six countries (Panama, Costa Rica, El Salvador, Guatemala, Honduras and Nicaragua), in a corporate restructuring and subsequent sale of its business to Willis Europe B.V., a company

A guide on Mergers and Acquisitions in Panama

Francisco Arias, Partner, Morgan & Morgan (head of M&A practice) Roberto Vidal, Partner, Morgan & Morgan Regulatory framework for foreign investment The Panamanian Constitution reserves “retail activities” for Panamanian nationals.  Various statutes have limited the application of the prohibition to activities that involve the sale of goods to consumers. By statute, the private sector (national

Morgan & Morgan advised Marsh Semusa and its shareholders in the execution of a call option of shares of the company

Panama, January 30, 2020. Morgan & Morgan advised Marsh Semusa and its shareholders in the execution of a call option of shares of the company. Majority shareholders exercised a call option to acquire from the minority shareholders the remaining shares of Marsh Semusa. Marsh Semusa is a risk consulting and insurance broker in Panama. Partner

Morgan & Morgan advised Minera Cerro Quema in connection with a credit facility for an amount of up to US$125 million

Morgan & Morgan advised Minera Cerro Quema, S.A. as guarantor of a credit facility granted to its holding company Orla Mining Ltd. (TSX: OLA) by Trinity Capital Partners Corporation and certain other lenders with respect to its previously announced US$125,000,000.00 project finance facility for the development of the “Camino Rojo” Oxide Gold Project located in

Morgan & Morgan advised in the sale of a frozen desserts business in the Republic of Panama

Morgan & Morgan advised the sellers of a business engaged in the production, distribution and sale of ice pops, sorbets, ice cream and frozen desserts in the Republic of Panama. Partners Francisco Arias G. and Roberto Vidal, and associate Cristina De Roux, participated in this transaction.

Morgan & Morgan advised Grupo Mercantil in connection with the registration of 104,760,961 common shares of its Panamanian holding Mercantil Servicios Financieros Internacional, S.A.

Panama, August 27, 2019. Morgan & Morgan acted as counsel to Grupo Mercantil in connection with the registration of 104,760,961 common shares of its Panamanian holding Mercantil Servicios Financieros Internacional, S.A. with the Superintendency of Capital Markets of Panama for its negotiation in the secondary market, shares that have been also listed on the Panama

Morgan & Morgan advised Cirsa Enterprises S.L.U. in connection with the offering of senior secured notes for an amount of up to €490,000,000

Panama, August 26, 2019. Morgan & Morgan acted as counsel to Cirsa Enterprises S.L.U. in connection with the offering of €490,000,000 senior secured notes due 2025 with a floating interest rate of three-month EURIBOR (subject to a 0% floor) plus 362.5 basis points per year, reset quarterly, issued by Cirsa Finance International S.à.r.l., and to

Morgan & Morgan advised Cirsa Enterprises S.L.U. in connection with the offering of senior secured notes for an amount of up to €390,000,000

Panama, May 28, 2019.  Morgan & Morgan acted as counsel to Cirsa Enterprises S.L.U. in connection with the offering of €390,000,000 4.750% senior secured notes due 2025, issued by Cirsa Finance International S.à.r.l., and to be guaranteed by the Cirsa Enterprises S.L.U. and, among others, Gaming & Services de Panama, S.A. Cirsa is one of

Morgan & Morgan advised Farallon Nicaragua in the sale of its shrimp producing and supplying business to Cooke Inc.

Morgan & Morgan acted as Panamanian legal counsel to Farallon Nicaragua, a vertically integrated producer of farmed shrimp and a leading supplier of branded fresh-frozen shrimp to major markets in Asia Europe and the U.S., in connection with the sale of its business to Cooke Inc., a New Brunswick Canadian company and parent of Cooke

Morgan & Morgan advised Banco La Hipotecaria, S.A. in the registration and issuance of Mortgage Loans Notes for an amount of up to US$40 million

Banco La Hipotecaria, S.A., acting as trustee of the Fifteenth Mortgage-Backed Notes Trust (an issuer trust constituted under the laws of Panama), registered Mortgage Loans Notes in three tranches for an amount of up to US$40,000,000 with the Superintendency of Capital Markets of Panama, which notes were successfully placed through the Panama Stock Exchange.  Payments