Discount Bank (Latin America ) SA ( DBLA ), a subsidiary of Israel Discount Bank of New York, is currently based in Uruguay and focuses on retail banking.
The role of FERRERE involved the initial assessment and definition of the most appropriate structure for sale, as well as performed the legal due diligence and advised on the transfer agreement. The sale is subject to regulatory approval from the Central Bank of Uruguay.
This operation is essential to consolidate the position of Scotiabank in the Uruguayan market. In 2011, Scotiabank FERRERE also assisted in the acquisition of Nuevo Banco Comercial.