Latham & Watkins Advises Davivienda in Integration of Scotiabank’s Operations in Colombia, Costa Rica, and Panama

Davivienda announces the successful closing of the previously disclosed integration of Scotiabank’s operations in Colombia, Costa Rica, and Panama, which become part of the holding company Davivienda Group S.A. As a result of the transaction, BNS received a 20.3% ownership stake in Davivienda Group.

With the transaction’s closing, Davivienda Group’s new corporate structure is formalized as the holding company for all of its businesses, including the incorporated BNS operations. The new structure allows for the integration of all assets involved in the transaction into a single organizational framework, consolidating a Latin-global financial platform.

Latham & Watkins LLP represented Davivienda in the transaction with a corporate deal team led by partners Tony Del Pino and Carlos Ardila and assistance from Mapi Villanueva* and Catalina Ucros Tellez. Advice was provided on intellectual property matters by partner Jeff Tochner and associate Sebastian Moss; on capital markets matters by partner John Slater; on tax matters by partners Alan Kimball and Eric Kamerman; on disputes related matters by counsel Santiago Bejarano; on bank regulatory matters by partner Arthur Long; on labor matters by counsel Laura Waller and Laura Szarmach; on compliance matters by partners Joseph Bargnesi, Kevin Chambers, and counsel Andrew Galdes, with assistance from associates Matthew Gregory and Eric Green; and on data privacy matters by counsel Robert Brown.

*Admitted to practice in Spain.