Grupo Cibest sold its interests in Panama bank Banistmo to Inversiones Cuscatlán Centroamérica (ICC) for $1.418 billion through ICC’s Panama banking subsidiary Banco La Hipotecaria.
Grupo Cibest, based in Medellín, Colombia, offers a broad range of financial services throughout Colombia and Latin America and has total assets of $113 billion.
S&C previously advised Bancolombia on its strategic corporate structure changes in 2025 creating Grupo Cibest, which was named “Regulatory Deal of the Year” by Latin Lawyer.
The S&C team advising Grupo Cibest includes Sergio Galvis, Stephen Salley, Ethan Chess, Russell Green and Sergio Garrido Vallespí. Pat Brown advised on securities matters. Mehdi Ansari, Liz Levin and Patrick Ronan advised on intellectual property matters. Jameson Lloyd and Xiaxia Wan advised on tax matters. Sarah Remmer Long advised on employment matters. Benjamin Kent and Joyce Kwok advised on financing matters.