Ogier advises Scotiabank on Dominican Republic bank acquisition

Ogier has advised Scotiabank on its acquisition of 97.4% of Banco Dominicano del Progreso in the Dominican Republic.

The acquisition, which received regulatory approval by the Superintendency of Banks and the Monetary Board of the Central Bank of the Dominican Republic, doubles Scotiabank's customer base in the Dominican Republic.

An Ogier team led by partner Simon Schilder and managing associate Christian Burns-Di Lauro advised on the BVI law aspects of the transaction.

Ogier advised Scotiabank in collaboration with lead counsel Torys LLP and Dominican Republic counsel Pereyra & Asociados.

Simon said: "We are pleased to have advised Scotiabank on this acquisition, which aligns with their strategy of building greater scale in growing, stable markets.

"Financial services M&A activity is always complicated but our team has built a significant track record in this area over the last few years."