Arias, Fábrega & Fábrega acted as lead counsel for the shareholders of Banco Reformador (Guatemala) and Transcom Bank (Barbados) in the sale of both financial institutions to Credomatic International Corporation, an entity which is part of Grupo Aval.

The parties are also negotiating a Trust Agreement to hold funds in escrow for five (5) years, to back various representations, warranties and indemnities.

Although this is Guatemalan bank and a Barbados bank, the transaction agreements are subject to the laws of Panama, and that is why the transaction is being run by Panama counsel. This transaction was run as an auction, with negotiations through the final round with 3 other banks.