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December 15, 2006 - (New York, NY) - Proskauer Rose LLP, an international law firm with over 700 lawyers worldwide, has represented Corporacion UBC Internacional, S.A. in its sale of Grupo Cuscatlan, a leading financial group in Central America, to Citigroup for $1.51 billion.
This M&A deal represents one of a series of recent, major transactions handled by Proskauer's rapidly-expanding Latin American transactional practice, which has extensive expertise representing U.S. and Latin American acquirers and targets in the purchase and sale of businesses and assets. In the deal, Citigroup acquired Grupo Cuscatlan's banking and financial intermediaries, including pension and insurance operations in Central America, the Caribbean and the United States, from Corporacion UBC Internacional, S.A., the subsidiaries' holding company with 2,500 shareholders. Grupo Cuscatlan subsidiaries offer corporate and commercial banking products and services, as well as a growing suite of consumer banking products.
Carlos E. Martinez, co-chair of the firm's Latin America Practice, was the lead partner on the transaction, which also included partners Alan Parnes, Daryn Grossman and Charles Dropkin, associates Julian Gomez, Michael Katz, Andrew Kleiman, Richard Basuk, Howard Klein, Christopher Murillo, Osterman Perez, Kelly Baldwin, Frederick Scheibe and Patricia Grassi.
Proskauer's Latin America Practice offers legal services and solutions to companies, investors and financial institutions based both in Latin America and in the United States. The firm's broad range of expertise includes transactional, corporate and regulatory, bankruptcy and restructuring, litigation and dispute resolution, and labor and employment capabilities.
Proskauer's Corporate Department consists of over 175 attorneys worldwide. The firm's corporate attorneys counsel clients in the full range of sophisticated financial transactions and in daily business and regulatory matters. The department's core practice areas include Mergers and Acquisitions, Capital Markets, Private Investment Funds, Finance, and Bankruptcy.
The firm's transactional experience includes: public and private mergers and acquisitions; public securities offerings including IPOs; venture capital and fund transactions including formation of private equity funds and leveraged buyout funds, hedge funds and investments by institutional and private investors; private placement of securities and private financing; and leveraged buyouts and structured finance.
About Proskauer Rose
Proskauer Rose, founded in 1875, is an international law firm providing a wide variety of legal services to clients worldwide from offices in Boca Raton, Boston, Chicago, Hong Kong, London, Los Angeles, New Orleans, New York, Newark, Paris, São Paulo, and Washington, D.C. The firm has wide experience in all areas of practice important to businesses and individuals including corporate finance, mergers and acquisitions, general commercial litigation, corporate governance matters, conducting internal corporate investigations, white collar criminal defense, private equity and fund formation, patent and intellectual property litigation and prosecution, labor and employment law, real estate transactions, bankruptcy and reorganizations, trusts and estates, and taxation. Its clients span industries including chemicals, entertainment, financial services, health care, information technology, insurance, internet, lodging and gaming, manufacturing, media and communications, pharmaceuticals, real estate investment, sports, and transportation. The firm can be found online at http://www.proskauer.com.
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