Sojitz buys 100% of Grupo Sílaba in Panama

Posted on 2024-03-13

The Japanese multinational Sojitz Corporation acquired 100% of the shares of Sílaba Motors, S.A., General securities and Storage Centenario. The news was confirmed this Tuesday through a memorandum sent by Grupo Silaba Panama to its collaborators.

In the note, the company explained that the decision was the result of careful consideration by management and shareholders, highlighting that the choice of Sojitz Corporation is based on the belief that this company can enhance its legacy with continuity, new investments, shared values and significant improvements.

Sojitz Corporation is a Japanese firm engaged in businesses in various industries, including automotive, infrastructure, healthcare and mass consumption. With 20,000 employees and 420 subsidiaries around the world, its foray into the Panamanian market is part of its expansion plan in Latin America, where it already operates in markets such as Argentina, Brazil and Puerto Rico.

The board of directors of Sojitz Corporation is comprised of Chairman Takashi Mizuno, Chief Executive Officer Jorge Díaz del Castillo, Chief Administrative and Financial Officer Yuki (Alex) Yamashita, and Chief Strategic Officer Takao Nakakaji.

Within the process of change of power, Grupo Silaba assured that it has worked closely with the Sojitz Corporation team to guarantee a positive and effective transition, without affecting employees or their current contractual conditions. The company stated that Sojitz Corporation deeply values its talented team and is committed to maintaining operational continuity and preserving the jointly built company culture, providing greater opportunities for growth.

On the other hand, Siuma Capital Latin America announced that it acted as exclusive financial advisor to the shareholders of Silaba Motors in the sale of 100% of its shares to Sojitz Corporation. Grupo Silaba, the main distributor of multi-brand vehicles in Panama, with exclusive distribution of brands such as Kia and Mazda, experiences Sojitz's first direct investment in Panama, consolidating its long-term commitment in the country and the region.

The transaction included not only the automobile sales and after-sales businesses, but also other specific assets such as automobile insurance brokerage operations, a tax warehouse, a state-of-the-art distribution center and properties strategically located throughout Panama. Sojitz, with global experience in the automotive industry, reinforces its commitment by entering the Panamanian market and distributing six important brands.

Samuel Urrutia, General Director of Siuma Capital, expressed his gratitude to Grupo Silaba for trusting them during the negotiation process, highlighting the mutual benefits of the transaction. Ricardo Urrutia, Vice President and Head of Automotive at Siuma Capital, highlighted the attractiveness of the Latin American automotive industry for global investors, underscoring the Sojitz team's ability to strengthen Grupo Silaba's management efforts and transform the company into an integrated mobility company. of first class.