Sale of 73 percent stake in Rey Holding Corp. to Corporación Favorita

Arias, Fábrega & Fábrega acted as lead counsel to Grupo Rey, one of the leading supermarket chains in Panama, in connection with the acquisition by Ecuadorian conglomerate Corporación Favorita of a controlling interest in Rey Holdings Corp. and successfully closed the first public tender offer (OPA) pursuant to the Panamanian securities laws in approximately 10 years, in one of the most innovative transactions of 2018 in Panama.

Corporación Favorita is an Ecuadorian business group founded in 1952 with presence in 6 countries in Latin America and 311 stores.