The Bank of Nova Scotia Neal Webster by alicejenny


									Banco Colpatria_Template 24/04/2012 16:02 Page 1

                                                                                                                                                             MAY 2012

              1       Legal Transactions                                                                     

                                            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

                  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
                                                                                                                     "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:
           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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