Grupo Harari’s Acquisition of Majority Stake of Supermercados Xtra

Morgan & Morgan Legal represented Supermercados Xtra, S.A. and Grupo Harari in the transaction.

Supermercados Xtra, S.A. (“XTRA”) and Grupo Harari announced the reacquisition by XTRA and the purchase by Grupo Harari of the shares owned by Souq Investments LP, equivalent to 53% of the issued and outstanding shares of XTRA, resulting in Grupo Harari becoming the sole shareholder of XTRA.

XTRA is a large retail store operator with more than 30 years serving locally and is listed in the Panama Stock Exchange.

The Morgan & Morgan team included Partners Francisco Arias (Picture) and Roberto Vidal and associate Maria Eugenia Crespo.

Involved fees earner: Francisco Arias – Morgan & Morgan; Maria Eugenia Crespo – Morgan & Morgan; Roberto Vidal – Morgan & Morgan;

Law Firms: Morgan & Morgan;

Clients: Grupo Harari; Supermercados Xtra;