Mercantil makes acquisition in Panama

Mercantil makes acquisition in Panama

M&A Corporate & Sovereign Strategy Loans Panama Venezuela

Mercantil Banco said it has agreed to buy Capital Bank in Panama for $137 million in cash and a 20% stake in the company. The acquisition includes Capital Bank's brokerage business, Capital Assets Consulting, and creates a bank with close to $3 billion in total assets and $265 million in net equity, Mercantil said in a press release. It added that it expects to close the transaction in the second half of the year. Lazard was Mercantil's financial adviser and Morgan & Morgan the legal adviser

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