Foreign companies merge with local ones

The purchases or mergers are happening in all fields: the industrial, financial, commercial, among others. Roberto Aspiazu, executive director of the Ecuadorian Business Committee (CEE), says that these partnerships strengthen the economy because the locals take advantage of the knowledge and the financial muscle of foreign companies.

On April 19 of last year, according to the notarial deed, two banks (solidario and Unibanco) merged by absorption and in recent days it was announced the intention of Promerica  to acquire more than half of the share package of Produbanco, one of the four largest banks in the country.

Foreign companies intend to expand their presence in Latin America. “This integration will built a solid platform for innovation in a category of large growth in this region, such as dairy products of added value, through prestigious and widely recognized brands,” according to Francisco Garza Egloff, CEO of Arca Continental.

The Chilean State Company ENAP (national petroleum company) sold  its 49% stake in the chain of gas stations Primax, which the company maintains in Peru, to grupo Romero, who had the rest.