García & Bodán participates in the purchase of Telefónica Nicaragua
Millicom International Cellular S.A., company owner of Tigo, has acquired the operations of Telefónica S.A. in the markets of Nicaragua, Costa Rica and Panama, in a transaction that exceeds USD 1,650 million dollars.
García & Bodán advised Millicom in the purchase of Telefonía Celular de Nicaragua, S.A. the legal advice included a detailed investigation to carry out a high-level due diligence in corporate, regulatory, litigation, intellectual property and real estate matters, in order to issue a report on the company’s status in Nicaragua.
The legal advice was led by Terencio García, Regional Managing Partner, in cooperation with Federico Gurdián, Managing Partner, Melvin Estrada, Partner, Lía Incer, Senior Associate and Ma. Ofelia Medina, Associate, all from Managua’s office, as well as Eduardo Cabrales, Managing Partner of the office of San Juan del Sur and Tola; all under the coordination of the law firm Davis Polk & Wardwell.
Telefonica CAM is the mobile market leader in Panama and Nicaragua and the second largest mobile provider in Costa Rica. With this transaction Millicom strengthens its leadership in the Central American market.