Work Area: M&A

Near monopoly in beer production as the largest producer acquires Cervesur

The public offering by Unión de Cervecerías Peruanas Backus & Johnston SAA (Backus) of Cervecería del Sur del Perú SAA (Cervesur) closed on May 26, 2000.

26 May 2000

Banco Union announces merger with Banesco - May 17, 2000

The merger of Banco Unión with Banesco's savings and loan unit, Caja Familia, will create the country's second largest bank.

17 May 2000

Banco Bisel acquires Banco Suquia

The acquisition on May 15, 2000 leaves Banco Bisel SA and Banco Suquía SA as the largest regional bank group of the country.

15 May 2000

Terra Networks agrees to acquire Lycos Inc - May

One of the world's largest Internet companies will be created by a US$12.5 billion deal that is expected to close during the third quarter of this year, subject to the receipt of domestic and foreign regulatory approval.

01 May 2000

Competition Comission approves supermarket acquisition

On April 28 2000 the Comisión Nacional de Defensa de la Competencia approved, with a very minor condition, the acquisition of control by Logidis SAS (Promodes) of Supermercados Norte SA.

28 April 2000

Backus purchases majority stake in Cervesur

The Beer Group Backus (Unión de Cervecerías Backus & Johnston SA) purchased a majority stake in Compañía Cervecera del Sur del Perú SA, the second largest beer manufacturer in Peru and the only remaining independent one.

21 April 2000

Latin American Investment Guarantee Company Ltd (LAIGC) formed

Corporación Andina de Fomento (CAF), the Caracas-based Andean development bank signed a joint venture agreement, incorporated on April 14, with American International Group (AIG) to form the Latin American Investment Guarantee Company Ltd.

14 April 2000

Mexican telecommunications conglomerate purchases majority stake in Conecel

The bid for a majority stake in Consorcio Ecuatoriano de Telecomunicaciones SA Conecel, one of the two holders of a mobile cellular licences in Ecuador by Teléfonos de México SA de CV (Telmex) was approved on March 21.

21 March 2000

Latin American investment company acquires Paraguayan financial institution

Vouga & Olmedo advised Grupo Vélox in its acquisition of 100 per cent of the shares of Financiera Parapití SAECA, which closed on January 8.

08 January 2000

UK mobile phone giant enters Mexican market

On January 5 the UK mobile phone giant Vodafone, advised by Creel, García-Cuellar y Müggenburg and Pillsbury Whinthrop, took its first stride into the fast-developing Latin American wireless market with the US$973.4 million purchase of a 34.5 per cent stake in Grupo Iusacell from the Peralta family.

05 January 2000

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