We advised Grupo Aval on the unregistered spinoff of a 75% equity stake in its indirect subsidiary

Davis Polk advised Grupo Aval Acciones y Valores S.A. in connection with the unregistered spinoff of a 75% equity stake in its indirect subsidiary BAC Holding International Corp. (BHI) to its shareholders and the shareholders of Banco de Bogotá, Grupo Aval’s publicly traded subsidiary and, prior to the spinoff, the direct parent of BHI.

Grupo Aval is a Colombian financial services group which provides a comprehensive range of financial services and products, including loans, deposits and pension and severance fund management. 

BHI is a Panamanian holding company that owns and manages several banking and financial services businesses in Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua and Panama, among other countries.

The Davis Polk capital markets team included partners Manuel Garciadiaz and Yasin Keshvargar, counsel Jake Tyshow and associates Tianwei Liu and Graham Duff. Partner Ethan R. Goldman and associate Ben Levenback provided tax advice. All members of the Davis Polk team are based in the New York office.

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