The Firm recently advised the underwriters, led by J.P. Morgan Securities LLC and Goldman, Sachs & Co., on the initial public offering of preferred shares in the form of ADSs of Grupo Aval Acciones y Valores S.A. that raised US$1.1 billion in proceeds. The ADSs are listed on the New York Stock Exchange under the ticker symbol “AVAL”.
Grupo Aval is the largest banking group in Colombia and Central America based on total assets, providing a comprehensive range of financial services and products ranging from traditional banking services, such as making loans and taking deposits, to pension and severance fund management.
The Simpson Thacher team included Jaime Mercado, Grenfel Calheiros, Juan M. Naveira, Christian Jackson, Nicolás Tirado and David Argueta (Capital Markets); Jennie Getsin (FINRA); Jonathan Cantor and Michael Cardella (Tax); and Mark Chorazak (Banking).