Greenberg Traurig oversees sale of largest Costa Rican private
Scotiabank acquires Interfin for US$293.5 million
MIAMI, FL -- June 23, 2006 -- The International law firm Greenberg
Traurig LLP served as U.S. counsel to Corporación Interfin, the
holding company of Banco Interfin, Costa Rica's largest privately
owned bank, in its C$330 million (US$293.5 million) sale to Scotiabank,
one of Canada's largest financial institutions.
The sale, expected to be completed in August, represents only
the third tender offer to be arranged in Costa Rica, and the second
for a financial institution. The combined entity is expected to
have nearly $1. 6 billion in assets in Costa Rica and $1 billion
"We are happy to have reached a deal that will be beneficial
for both parties, as they join forces to reach a growing customer
base," said Greenberg Traurig Corporate and Securities Shareholder
Mark I. Michigan
of the firm's New York City office.
"Making the deal so complex was the fact that it involved not
only challenging Costa Rican, Bahamian and Canadian regulatory issues,
but New York corporate law issues as well," said
Randy A. Bullard,
a Shareholder in the firm's Miami office.
Michigan and Bullard led Greenberg Traurig's team, which included
Shareholder Alan Gaynor
in New York and Associate
in Miami. Fernanda Fallas of Fallas y Fallas and Vivian Liberman
of BLP Abogados represented Corporación Interfin in Costa Rica.
The Scotiabank legal team consisted of Ian Arellano and Alexandra
Flah of Toronto's McCarthy Tetrault law firm and David Campos and
Mario Quesada of Lacle & Gutierrez in Costa Rica.
The deal represents the latest in a series of recent M&A transactions
Greenberg Traurig has handled for financial intuitions in Central
Interfin, founded in 1979, has 24 branches and approximately
950 employees. Scotiabank has been operating in Costa Rica since
About Greenberg Traurig, LLP
Greenberg Traurig, LLP is an international, full-service law firm with 1,500
attorneys and governmental affairs professionals in the U.S., Europe and Asia. The
firm is ranked seventh on The American Lawyer's Am Law 100 listing of the
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law firms: Olswang, London and Brussels; Studio Santa Maria, Milan and Rome; and
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