Grupo Silaba and Grupo Q recently announced that they had reached an agreement regarding the exclusive distribution of the General Motors («GM») brands in Panama.
On December 1st, 2023, Grupo Silaba, a Panamanian auto conglomerate, transferred the assets and distribution rights of their Chevrolet and Cadillac retail, distribution and service business to Salvadorian giant, Grupo Q. We at Siuma Capital Latin America are pleased to announce our participation as exclusive financial advisors to Grupo Silaba and its shareholders in this landmark transaction.
Grupo Silaba, based in Panama City, is a leading multi-brand auto conglomerate with exclusive representation in Panama of some of the most important global brands.
Grupo Q, based in San Salvador, is one of the region’s largest auto players representing 18 brands with operations in El Salvador, Costa Rica, Nicaragua, Guatemala, Honduras and Panama.
The GM operation, with its Chevrolet and Cadillac brands, is the 8th largest in sales volume in Panama as of November 2023. Both brands combined sell ~1,800 new cars per year with a market share of ~3.5%. This transaction is relevant as its signals a shift in strategy for Grupo Silaba which had been the exclusive distributor for the brands since1995. In the other hand, it bolsters Grupo Q’s aggressive expansion in the territory after its recent market entry with the brands Chery, Peugeot and GWM earlier this year.
We are delighted to have been able to work alongside the shareholders of Grupo Silaba in this transaction. The technical capabilities, industry know-how and investor reach of the Siuma Capital team involved in this transaction led for the swift execution of a deal that proved beneficial for all parties involved.
