Banco GNB Paraguay’s $270 Million Acquisition of Banco BBVA Paraguay

Proskauer represented Banco GNB Paraguay S.A., a member of the Gilinski Group, in its $270 million purchase of Banco Bilbao Vizcaya Argentaria S.A.’s (BBVA) Paraguay unit, Banco BBVA Paraguay S.A. Cleary Gottlieb Steen & Hamilton and Estudio Jurídico Gross Brown advised Banco Bilbao Vizcaya Argentaria S.A.

This transaction will make Banco GNB Paraguay S.A. the largest bank in the Paraguayan market in terms of deposits. The final awaits approval fof the relevant Paraguayan authorities.

This transaction represents another consolidating step for the financial group led by Jaime Gilinski in Latin America, which already has a presence in Colombia, Peru and Paraguay.

The Proskauer team was led by corporate partners Carlos Martinez (Picture) and Antonio Piccirillo.

Cleary Gottlieb Steen & Hamilton advised Banco Bilbao Vizcaya Argentaria S.A. with Chantal E. Kordula, Daniel Ilan,  Corey Goodman, Jessica Batlle, Laura Daugherty, Bobby Underwood, Jina Davidovich, Jane C. Rosen, Alexandra Theobald, David A. Maranjian, Alexis Lazda, Andrew Kline and James Corsiglia.

In Paraguay, Estudio Jurídico Gross Brown advised Banco Bilbao Vizcaya Argentaria S.A. with Jorge Ignacio Gross Brown, Sigfrido Gross Brown, Pablo Debuchy, Mauricio Salgueiro and Juan Pablo Zaputovich.

Involved fees earner: Jessica Batlle – Cleary Gottlieb Steen & Hamilton; James Corsiglia – Cleary Gottlieb Steen & Hamilton; Laura Daugherty – Cleary Gottlieb Steen & Hamilton; Jina Davidovich – Cleary Gottlieb Steen & Hamilton; Corey Goodman – Cleary Gottlieb Steen & Hamilton; Daniel Ilan – Cleary Gottlieb Steen & Hamilton; Andrew Kline – Cleary Gottlieb Steen & Hamilton; Chantal Kordula – Cleary Gottlieb Steen & Hamilton; Alexis Lazda – Cleary Gottlieb Steen & Hamilton; David Maranjian – Cleary Gottlieb Steen & Hamilton; Jane Rosen – Cleary Gottlieb Steen & Hamilton; Alexandra Theobald – Cleary Gottlieb Steen & Hamilton; Bobby Underwood – Cleary Gottlieb Steen & Hamilton; Pablo Debuchy – Estudio Gross Brown; Jorge Ignacio Gross Brown – Estudio Gross Brown; Sigfrido Gross Brown – Estudio Gross Brown; Mauricio Salgueiro – Estudio Gross Brown; Juan Pablo Zaputovich – Estudio Gross Brown; Carlos Martínez – Proskauer Rose LLP; Antonio Piccirillo – Proskauer Rose LLP;

Law Firms: Cleary Gottlieb Steen & Hamilton; Estudio Gross Brown; Proskauer Rose LLP;

Clients: Banco Bilbao Vizcaya Argentaria (Bbva); Banco GNB Paraguay S.A.;

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Author: Ambrogio Visconti