BLP has advised NEDERLANDSE FINANCIERINGS-MAATSCHAPPIJ VOOR ONTWIKKELINGSLANDEN N.V. (“FMO”) on its $60 million funding alongside BANCO LA HIPOTECARIA, S.A. (Panama) y LA HIPOTECARIA, S.A. DE C.V. (El Salvador). BLP’s role was to advise FMO in the review of the facility agreement under local law and execution thereof, the preparation of all documentation, and the planning, negotiation,…
Category Archives: Blog
14
Jul
Jul
BLP advised the seller, Grupo Orbis (Pintuco), on this regionally impactful transaction employing attorneys from each of our offices in Costa Rica, Nicaragua, Honduras, El Salvador, and Guatemala, as well as coordinating with lawyers in Panama. Besides conducting due diligence in the jurisdictions of Central America, BLP also analyzed the competition in each of the countries and if required…
08
Jul
Jul
On July 6, 2021, the Minimum Wage National Council approved the respective decrees to increase the minimum wage for all sectors of the economy including commerce, services, industry, textile maquilas, agroindustry, and agriculture. The decrees were submitted to the Executive Branch for final approval and publication in the Official Gazette. According to governmental authorities, the…
At BLP, Blog
BLP has advised Inversiones Financieras Grupo Azul on the acquisition of Banco G&T Continental in El Salvador
07
Jul
Jul
BLP has advised its client Inversiones Financieras Grupo Azul, S.A (“IFGA”) on the acquisition of the shares of Banco G&T Continental El Salvador, S.A. and its subsidiary G&T Continental, S.A. de C.V., Casa de Corredores de Bolsa. BLP’s advice included: Everything related to the due diligence process on the target. The structuring of the transaction….
29
Jun
Jun
The General Directorate of Taxation of Costa Rica has issued a communication that establishes the classification criteria to qualify as a Large Taxpayer (Resolution of the General Directorate of Taxation No. DGT-R-22-2021 Taxpayers who meet any of the following qualifications will be under the jurisdiction of the Directorate of Large National Taxpayers: Paid average taxes…
28
Jun
Jun
The life sciences sector has been one of the areas most impacted by COVID-19. On the positive side, certain related products and devices experienced unexpected demand in the past year, thus increasing sector progress. On the negative side, the coronavirus led to the interruption of research and development in fields unrelated to the pandemic creating…
23
Jun
Jun
BLP has advised IDB Invest, a member of the IDB Group, in the granting of a loan of $14 million to Calox de Costa Rica S.A. (Calox). The loan enables Calox to obtain substantial improvements in its productive capacities and seek international certifications that validate the quality of its products, affording access to new markets….
Blog, News
Rapprochement with the United States opens new routes for foreign investment in the northern triangle of Central America.
14
Jun
Jun
The Vice President of the United States of America, Kamala Harris, visited Guatemala on June 6 and 7, 2021. During her visit, she highlighted issues such as the illegal migration of people to her country, state corruption in Guatemala and the promotion of employment formal as an appropriate way for the sustainable development of Guatemalans….
Blog, News
Anticorrupción en la Región: El Departamento de Justicia de los Estados Unidos se enfoca en Centroamérica
09
Jun
Jun
The US Department of Justice announced on June 7, 2021, an initiative focused on fighting corruption and other criminal activity in Central America, which will be centered for the time being on the Northern Triangle countries of El Salvador, Honduras, and Guatemala. The press release announcing the initiative said the efforts will feed into its…
25
May
May
Approval of the extension of the period authorizing the reduction of working hours for the Tourism Sector, due to the Declaration of National Emergency. On May 21, 2021, Law 9982 went into effect allowing employers in the Tourism Sector who demonstrate that they are still economically affected by the pandemic to request the reduction of…