Morgan & Morgan advised Grupo Estrella on the acquisition of Cemex Panama.

Panama, October 3, 2025. Morgan & Morgan acted as legal counsel to Grupo Estrella in the acquisition of Cemex Panama’s assets, a transaction valued at over US$200 million. The deal included the Cemento Bayano plant, located in Calzada Larga, Chilibre, with two integrated production lines, as well as cement, ready-mix concrete, and aggregates operations.

Grupo Estrella, an industrial conglomerate headquartered in the Dominican Republic, has maintained a presence in Panama for over 12 years through major infrastructure and energy projects.

“We are very pleased to strengthen our presence in Panama and be part of its growth and development. This investment will allow us to offer comprehensive solutions for the local and regional markets,” said Giuseppe Maniscalco, President of Grupo Estrella’s Industrial Division and President of the Board of Directors of Cemento Bayano.

Morgan & Morgan worked with a multidisciplinary team for this complex transaction, led by partner Kharla Aizpurúa O., with the support of partners José Rafael Reyes, Milagros Caballero, José Carrizo, and Raúl Bermúdez. The team also included senior associates Mónica Moreno and María Eugenia Brenes, and associates Eduardo Oteiza, Arantxa Fernández, Angélica Ortíz, María Alejandra Rodríguez, Miguel Rodríguez, and David Ramos.

Morgan & Morgan is proud to have contributed to the success of this important transaction, reaffirming its leadership in legal advisory services for high-impact operations in Panama and the region.