O’Neal Webster recently acted as BVI counsel to Mercantil Colpatria, S.A. in connection with its sale to The Bank of Nova Scotia of a 51% stake in Banco Colpatria, one of Colombia’s leading banks. Mercantil Colpatria retains 48.7% ownership of the bank. The sale was satisfied through a combination of US$500 million in cash and 10,000,000 common shares of The Bank of Nova Scotia. The Bank of Nova Scotia is Canada’s third largest bank and the acquisition was its largest international acquisition to date. Mercantil Colpatria is a conglomerate whose business operations in Colombia includes the banking, construction, insurance, pension fund and mining sectors.
The O’Neal Webster team was led by counsel, Christopher Simpson.
For further information, Please contact Christopher Simpson (csimpson@onealwebster.com).
This Guide is general in scope and is not intended to be comprehensive. It is not a substitute for legal advice.