Thomas Vega-Byrnes has left Winston & Strawn and has set up his own solo practice, Thomas Vega-Byrnes LLC. He will continue to work in international power projects and will build upon established relationships with commercial, government and multilateral lenders, equipment suppliers and contractors.
The Presidents of Panama, Costa Rica, Nicaragua, Guatemala, and El Salvador, along with the Vice-President of Honduras, have signed the text for a future Free Trade Agreement to cover all six countries. With the signing of the text, which took place on March 6 in Panama City with the President of Brazil as witness, the Central American countries intend to form a trade bloc of 30 million consumers.
South African Breweries plc has acquired a 97 per cent equity interest in Cervecería Hondureña SA, which it plans to combine with El Salvador Beverage Business, a family owned consortium. Cervecería Hondureña is the sole brewer and the largest soft drinks bottler in Honduras. The equity interest in CHSA was purchased from the Dole Food Company Inc. for a cash consideration of US$537 million on a debt free basis. The two deals make South African Breweries plc the largest brewer and bottler in Central America.
The program, a re-do of one done last year, was signed between CABEI and Barclays Bank PLC. It is designed to finance foreign trade operations in Central America and was effective as of November 21, 2000.
Congress is currently discussing a new electricity law, though it may take sometime before the law is finally approved.
Major changes approved by Congress to the Industrial Property Law became effective throughout Honduras from 28 February 2000.