Consortium Legal – Nicaragua advises on the acquisition of Banco Procredit Nicaragua S.A

Consortium Legal – Nicaragua participated as legal advisor in the acquisition process of Banco Procredit Nicaragua S.A by Corporación Financiera de Inversiones S.A, led by Mr. Carlos Pellas Chamorro - Grupo Pellas.

A team of 10 lawyers from Consortium Legal - Nicaragua, under the direction of Partner Carlos Taboada and Partner Rodrigo Taboada, advised on the review and due diligence of relevant aspects to evaluate the acquisition of the bank, reviewing aspects such as regulatory compliance, corporate structure, relevant commercial contracts, state of their assets and documents of real estate assets used in their transactions such as the granting of loans and the acceptance of securities, labor matters, taxes, and relevant litigation.

This acquisition represents the return of Grupo Pellas to the Nicaraguan financial system, supporting the country's economic growth by expanding the credit supply. The acquirer will provide attention to the needs of its current customers, expanding its business model to offer new products and services by implementing innovative technologies in its operations.Banco ProCredit, along with other international financial institutions, was part of the ProCredit Group, controlled by ProCredit Holding AG & Co. KGaA, a company based in Frankfurt, Germany. Currently, it is duly authorized by the Superintendency of Banks of Nicaragua.

Consortium Legal – Nicaragua acted as external counsel for Corporación Financiera de Inversiones S.A. throuhg a team led by partners Carlos Taboada and Rodrigo Taboada, who were assisted by partners Gerardo Hernandez, Bertha Xiomara Ortega and Darliss Gordon, and associates Eduardo Logo, Meyling Sampson, Yahoska Melendez, Queenie Bendaña, and Maria Lizeth Prado.

Mendieta + Co advised the operator through partner Edwin Mendieta.