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Banco Colpatria_Template 24/04/2012 16:02 Page 1 MAY 2012 T 1 Legal Transactions www.lawyer-monthly.com Nova Scotia he Bank ofBanco Colpatria from acquires stake in Mercantil Colpatria BVI counsel to Mercantil Colpatria: Advisor Insight Deal Overview O’Neal Webster acted as BVI counsel to Mercantil Colpatria, S.A. on this transaction, led by Christopher Simpson. Q Is this a typical transaction for you? What other types of transaction have you been involved in? Scotiabank recently announced the closing of its acquisition of 51 per cent of Banco Colpatria. Through this long-term partnership with Mercantil Colpatria, who retains 48.7 per cent ownership, Scotiabank will participate in significant growth opportunities in Qon? Can you tell me about the recent transaction you have been working Yes, but I have also been involved in IPOs, mergers, property financing and investment funds related transactions. Colombia. The purchase will be satisfied through a combination of U.S.$500 million in cash and 10,000,000 common shares of The Bank of Nova Scotia. "We are pleased to be partnering with Mercantil O’Neal Webster recently acted as BVI counsel to Colpatria and Banco Colpatria's strong management Mercantil Colpatria, S.A. in connection with its The Bank of Nova Scotia team to leverage our joint expertise and accelerate the bank's growth in Colombia," said Brian Porter, Group sale to The Bank of Nova Scotia of a 51% stake is Canada’s third largest Head of International Banking at Scotiabank. "We look in Banco Colpatria, one of Colombia’s leading forward to the success we will achieve by combining banks. Mercantil Colpatria retains 48.7% bank and the acquisition was the unique strengths of our two companies and focusing on the significant growth opportunities in the ownership of the bank. The sale was satisfied its largest international Colombian market." through a combination of US$500 million in cash Banco Colpatria, with assets of U.S.$6.4 billion and and 10,000,000 common shares of The Bank of acquisition to date deposits of U.S.$4.4 billion (as of November 2011), is Nova Scotia. The Bank of Nova Scotia is Colombia's fifth largest financial group and one of the country's leading lenders with a positive track record Canada’s third largest bank and the acquisition was its largest international acquisition to date. Mercantil Colpatria is a conglomerate whose Q Which sectors do you specialize in? Corporate and commercial, banking and finance, of growth. The bank is the second largest credit card issuer in Colombia and also offers commercial and consumer loans and home mortgages through its network of 175 branches and 308 ATMs. LM business operations in Colombia include the and investment funds. banking, construction, insurance, pension fund and mining sectors. Key Advisor Contact Q Tell us a little about yourself. Christopher Simpson Q What were the main challenges & complexities for you and your company regarding this transaction? I joined O'Neal Webster in 2010 and my practice focuses primarily on banking and finance and corporate and commercial law where I advise a O’NEAL WEBSTER 30 DeCastro Street Simmonds Building client base of leading financial institutions, .O. P Box 961 The transaction involved counsels from various corporations and law firms on all aspects of Road Town, Tortola jurisdictions including the US, Colombia and the corporate finance including bilateral and British Virgin Islands BVI. From a BVI perspective the transaction syndicated loans, bond issues, project finance, Tel: 284-494-5808 included the continuation of a company from property financing, joint ventures, initial Fax: 284-494-5811 Panama in a short time frame which posed some public offerings, private placements, mergers, Email: www.onealwebster.com challenges. The transaction also involved arrangements, corporate restructuring, project the registration of security for various BVI finance, special purpose vehicles for tax or companies and the provision of BVI corporate corporate structures, investment funds and law advice on a host of corporate issues. general aspects of banking and corporate law.
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