On September 14, 2022, the Legislative Assembly of El Salvador decreed paid leave for workers from the public and private sector for September 16, 2022. If an employee works on this date, the employer must pay a surcharge of 100% on his/her salary. BLP has ample experience advising national and international companies on labor matters…
Category Archives: El Salvador
Blog, El Salvador, Labor & Employment, News
Legislative changes to employers’ obligation to provide daycare services to their employees in El Salvador
19
Jul
Jul
On June 24, 2022, the “Growing Together for the Integral Protection of First Infancy, Childhood and Adolescence Law” was published in the Official Gazette, repealing the “Special Law for the Regulation and Installation of Daycare Rooms for Employees’ Children.” It is worth mentioning that the repealed law was issued on May 2018, but, after multiple…
11
Jul
Jul
BLP has advised Banca de Inversión Bancolombia S.A., Banco Agrícola, S.A., and other local and foreign banks on a syndicated loan for up to $348 million, to the AES group. AES is the primary power distributor in El Salvador, and among the group of companies in El Salvador that benefited from this syndicated loan are…
At BLP, Blog, Business Law, Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua
BLP advises Barentz International on the acquisition of Divsa in Central America
29
Jun
Jun
BLP has advised its client, Barentz International, a global distributor of ingredients in the life sciences industry, on the acquisition of 100% of the shares of Distribuciones Industriales Variadas, S.A. (Divsa) in a significant transaction involving eight jurisdictions (Guatemala, El Salvador, Honduras, Costa Rica, the Dominican Republic, British Virgin Islands, Panama, and Mexico.) Divsa is…
At BLP, Blog, El Salvador
BLP advised IDB Invest on a $70 million subordinated loan to Banco Agrícola S.A. in El Salvador
23
Jun
Jun
BLP advised IDB Invest on all matters related to closing a $70 million unsecured subordinated loan to Banco Agrícola S.A. of El Salvador. Banco Agricola will use the loan proceeds to support its supplementary capital structure and for the origination of sub-loans to small and medium-sized enterprises in El Salvador, with an emphasis on Salvadoran…
At BLP, Blog, El Salvador
BLP has advised IDB Invest on the first issuance of Sustainability Bonds in El Salvador
20
Jun
Jun
IDB Invest and Banco Promerica S.A., El Salvador (Banco Promerica) joined forces to issue the first Sustainability Bonds in El Salvador to finance green and social projects. BLP acted as legal advisor to IDB Invest in El Salvador during the transaction. IDB purchased the entire first tranche of $20 million out of a $100 million…
At BLP, Blog, El Salvador
Business Opportunity: International Biding for the inter-departmental rail transport of El Salvador
28
Feb
Feb
Name of the project “Feasibility study, basic engineering and technical structure project for the inter-departmental rail transport of El Salvador”. Bid solicitor Road Conservation Fund (FOVIAL). Tender terms download/purchase From February 22 to March 31, 2022. Receipt of bids April 22, 2022, from 8:00 to 11:00 am. The Road Conservation Fund (FOVIAL) has announced the…
Banking & Finance, Blog, El Salvador, News, Regulatory Compliance, Prevention and Risk Management
Obligation to update information for NGOs in Guatemala
18
Jan
Jan
In Guatemala, Decree number 4-2020 “Reforms to the Law of Non-Governmental Organizations for Development, Decree number 2-2003 of the Congress of the Republic of Guatemala and the Civil Code, Decree-Law number 106 of the Head of Government” entered into force, which establishes, among other provisions, the obligation of a Non-Governmental Organization (“NGO”), registered and operating…
At BLP, Blog, Costa Rica, El Salvador
BLP advises Cementos Progreso Holdings, S.L on the acquisition of CEMEX in Costa Rica and El Salvador
18
Jan
Jan
BLP has advised Cementos Progreso Holdings, S.L. on the $335 million acquisition of assets from Cemex, S.A.B of C.V. in Costa Rica and El Salvador. Our international teams performed due diligence and provided local legal advice on the signing of an agreement by Cementos Progreso Holdings S.L. (“Cementos Progreso”) to acquire the Costa Rican and…
Banking & Finance, Blog, El Salvador, News, Regulatory Compliance, Prevention and Risk Management
Modification to the Instructions for Qualifying Financial Institutions Not Domiciled in El Salvador
17
Jan
Jan
As of January 1, of this year, the new “Instructions for Qualifying Institutions Domiciled Abroad in the context of the Income Tax Law, Tax Law on the Transfer of Personal Property and the Provision of Services and Tributary Code” entered into force. These Instructions regulate tax benefits such as VAT exemption (currently 13%) and income…