Panama: Patton, Moreno & Asvat act as Panamanian counsel to Sun International Limited
Patton, Moreno & Asvat has recently acted as Panamanian counsel to Sun International Limited and assisted the South Africa based company in reaching a US$45.5 million deal with Newland International Properties Corp. to acquire and open The Ocean Club Casino at the Trump Ocean Club International Hotel and Tower Panama.
The transaction closed on November 14, 2013, after a year-long negotiation process led by Ivette Martinez, María de Lourdes Marengo and Khatiya Asvat.
This deal will bring Sun International Limited, a world-renowned casino operator, to Panama’s most prized hotel with a US$60 million investment envisioned to build-out and fully develop the multiple spaces of the casino, which will include an exclusive space for VIP guests at the 66th level of the hotel and private suites on the 65th floor.
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