Arias, Fábrega & Fábrega acted as counsel to Financiera Automotriz S.A. (FASA) in connection with the sale of 100% of its stake in Panameña de Motores S.A., the Nissan and Infiniti distributor in Panama, as well as several minority equity stakes in car dealership operations in the Central America region, to Excel Automotriz, for an undisclosed amount.

Excel Automotriz is the distributor of 18 brands in Central America: Toyota, Mitsubishi, Lexus, Cadillac, KIA, Chevrolet, BMW, Mini, Honda, Hino, Daihatsu, Hyundai, Mazda, Ford, Volkswagen, Nissan, Fuso and Renault.

FASA will continue to operate the  BMW and Mini dealerships  in Panama, as well as the Hertz car rental operations, which were not included in the deal. 

FASA, which trades on the Panama Stock Exchange, launched a public tender offer for approximately 74% of its issued and outstanding shares on March 12, 2012.  ARIFA is also advising FASA on the public tender offer, which is expected to close in the middle of April 2012.