First BanCorp., parent of FirstBank Puerto Rico, announced the signing of a stock purchase agreement for FirstBank to acquire Spanish bank Banco Santander Puerto Rico in an all-cash transaction worth $1.1 billion. The transaction is subject to receipt of all necessary regulatory approvals and is expected to close in mid-2020. When broken down, the 100% […]
Oriental CEO José Rafael Fernández believes Puerto Rico has an economy that is “transitioning, from not only the aftermath of [Hurricane] María reconstruction, but also for the last 12, 13 years of economic contraction.” During a call with analysts to discuss its third quarter results, Fernández said while federal funds are trickling in, “there is […]
Nespresso announced the launch of Cafecito de Puerto Rico, its first Puerto Rican coffee, available exclusively to U.S. mainland consumers. As the newest addition to the “Reviving Origins” program, this limited-edition coffee highlights the natural earthiness of Puerto Rico’s coffee beans. Since 2018, Nespresso has been working with the Hispanic Federation and coffee farmers in […]
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