August 15, 2019 (New York & São Paulo) – International law firm Proskauer represented Banco GNB Paraguay S.A., a member of the Gilinski Group, in its $270 million purchase of Banco Bilbao Vizcaya Argentaria S.A.’s (BBVA) Paraguay unit, Banco BBVA Paraguay S.A. 

This transaction will make Banco GNB Paraguay S.A. the largest bank in the Paraguayan market in terms of deposits. The final awaits approval of the relevant Paraguayan authorities. 

This transaction represents another consolidating step for the financial group led by Jaime Gilinski in Latin America, which already has a presence in Colombia, Peru and Paraguay.

The Proskauer team was led by corporate partners Carlos Martinez and Antonio Piccirillo.