8/17/2007
Becker Glynn Represents FMO and DEG in $30 Million Equity Investment in Honduran Bank
The firm served as international transaction counsel to the Netherlands Development Finance Company (FMO) and DEG - Deutsche Investitions- und Entwicklungsgesellschaft mbH (DEG) in connection with a $30 Million investment in preferred shares of Banco Financiera Comercial Hondureña (Banco Fichohsa). The agreements providing for the DEG/FMO investment in Banco Ficohsa were signed at FMO's office in The Hague, Netherlands on August 17, 2007.
Banco Ficohsa is the 4th largest bank in Honduras with a market share of 12%. The combined purchase of preferred shares by DEG and FMO will further strengthen Banco Ficohsa's capital base, enabling it to continue its rapid growth.
The firm's representation of DEG and FMO during the transaction included advice and assistance during the due diligence process and the drafting and negotiation of the subscription agreement and related agreements. The firm also assisted DEG and FMO in coordinating the Honduran legal aspects of the transaction with DEG and FMO's Honduran counsel.
