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22 June 20222 minute read

DLA Piper Martínez Beltrán represents Banco de Bogotá S.A. in a Spin-off process for Certain Assets in Panama and Central America

DLA Piper Martínez Beltrán represented Banco de Bogotá S.A. before the Superintendency of Finance of Colombia, the Banking Superintendency of Panama and the Colombian Stock Exchange, in a spin-off and merger process of certain assets in Panama and Central America.


Camilo Martínez Beltrán, the DLA Piper Martínez Beltrán managing partner who led the team during this representation, received approval for the project seeking to separate Banco de Bogotá’s subsidiary, Leasing Bogotá S.A. Panamá and Multi Financial Group, Inc, in favor of the financial entity, Grupo Aval. The Financial Superintendence then authorized Grupo Aval to carry out a partial spin-off presented by Banco de Bogotá S.A.


After the transaction, the shareholders of Banco de Bogotá S.A. and Grupo Aval will be direct owners of 75% of Bogotá Panamá Leasing, while Banco de Bogotá S.A. would maintain a 25% stake.


In addition to Martínez, the DLA Piper Martínez Beltrán team representing Banco de Bogotá S.A. included associate director Juan Camilo Varón, and associates Juan Carlos Navarro and Sabastián Pomárico (all of Bogotá).


With more than 1,000 corporate lawyers globally, DLA Piper helps clients execute complex transactions seamlessly while supporting clients across all stages of development. The firm has been rated number one in global M&A volume for 12 consecutive years, according to Mergermarket.