Arias, Fábrega & Fábrega acted as counsel to IstmoRe and its shareholders, in:

• the negotiation of the acquisition of the 38.37 per cent equity stake held by QBE Insurance Group in IstmoRe;
• the negotiation of the acquisition financing with Global Bank Corporation; and
• the structuring and negotiation of the sale of the newly acquired equity stake to other investors in Panama, as part of a secondary offering of shares on the Panama Stock Exchange.

As part of the transaction, ARIFA also negotiated with the International Finance Corporation (IFC), Interamerican Investment Corporation (IIC) to obtain the necessary waivers for the buy-out of QBE Insurance Group.