San Salvador, February 22, 2010
Recently, the Banking and Financial Division of ROMERO PINEDA & ASOCIADOS conducted before the Salvadoran Superintendence of the Financial System the process to obtain approval for the acquisition and exchange of shares between the insurance companies MAPFRE AMERICA and MUNDIAL PANAMA, via its subsidiaries Mapfre La Centroamericana and Aseguradora Mundial S.A.- Seguros de Personas, respectively.
Both companies will benefit from the union authorized, to establish successfully as the larger Central American conglomerate insurance in the region. Additionally, this alliance will mean expanding its intercontinental market, specifically in Mapfre´s worldwide subsidiaries.
Currently, Mario Ayala, Partner of the Banking and Financial Division of the firm along with his staff, continue representing and advising the aforementioned insurance companies in order to consolidate operations of its subsidiaries in El Salvador.
Regarding this achievement, Mr. Ayala said: "This fills us with great satisfaction. Every day more multinational companies place their trust in our firm ROMERO PINEDA & ASOCIADOS to advise their local and international operations”.
