Work Area: Finance

BankBoston customers get access to online banking in Brazil

BankBoston, a subsidiary of US-based Fleetboston, has signed an agreement with wireless operator BCP, a subsidiary of US-based Bellsouth, which will enable its Brazilian customers to have access to online banking services via the internet.

10 January 2001

US$50 million Political Risk Insured Floating Rate Notes offering in Argentina

Pérez Alati and White & Case advised on an offering of Floating Rate Notes, completed for Banco de Galicia y Buenos Aires SA, on December 20, 2000. It is for a principal amount of US$50 million, due in 2005.

20 December 2000

Banking: Canada's Scotiabank acquires control of Mexican financial services group

On November 30, 2000 Scotiabank, advised by McCarthy Tétrault of Canada and Ritch Heather of Mexico, completed a transaction to increase its stake in Grupo Financiero Inverlat SA de CV to 55 per cent.

30 November 2000

Hughes Hubbard and Sherman & Sterling in US$120 million commercial paper program

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.

21 November 2000

Successful bidder for São Paulo state bank represented by Tozzini Freire

On November 20, Santander of Spain became Brazil's third largest financial institution with its winning bid for a controlling stake in Banespa. The bank agreed to pay R$7.05 million, a 281 per cent premium on the minimum asking price.

20 November 2000

Felsberg e Asociados represents Banestado in privatisation auction

On October 17 2000, Itau, Brazil's second largest private bank, was awarded Banestado, the Paraná state bank, with its bid of R$1.625 billion (US$867 million).

17 October 2000

Improved anti-laundering legislation and banking and trust secrecy

The Republic of Panama recently enacted four pieces of legislation to strengthen its fight against money laundering.

03 October 2000

Cleary Gottlieb, Davis Polk and Santamarina y Steta in financial services transaction

The firms are advising in a transaction between Aetna International Inc and Grupo Financiero BBVA Bancomer (GFBB) that was announced on September 19, 2000.

19 September 2000

Banco General SA completes merger with Bancomer

On June 30 the integration of Banco Comercial de Panamá (Bancomer) and Banco General was completed, creating Central America's largest bank.

30 June 2000

Grupo Financiero Bancomer SA chooses BBVA over Banacci

The June 12 approval by Bancomer of the merger and capitalisation proposal from Spain's Banco Bilbao Vizcaya Argentaria SA will create Mexico's largest banking entity.

12 June 2000

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