POSSE HERRERA RUIZ ADVISED BANCO DAVIVIENDA IN A JOINT VENTURE WITH RAPPI TO CREATE A DIGITAL NATIVE FINANCIAL INSTITUTION

The Colombian law firm Posse Herrera Ruiz advised Banco Davivienda in a negotiation with Rappi, the Latin American pioneer multivertical superapp, to set up a digital native financial
institution that will operate in Colombia and within Rappi´s superapp as the next step in the strategic alliance between Banco Davivienda and Rappi.

DEAL VALUE: USD 39.100.000
CONFIDENTIAL Yes ☒ No ☐ STAKE: 50%
ANNOUNCEMENT/SIGNING DATE: Tuesday, March 09, 2021
CLOSING DATE: TBD
Cross-border matter: No ☒

LEGAL ADVISORS:

COUNSEL TO BANCO DAVIVIENDA S.A.
Posse Herrera Ruiz
Leading Partner(s) José Alejandro Torres; Mariana Posse; Jorge de los Ríos
Other Lawyers Lina Lineros, Adriana Cabal, Annabelle Angarita, Laura Torrado, Laura
Aristizábal, Daniel Meza and Julián Aguirre.

COUNSEL TO RAPPI INC
Gar r igues
Leading Partner(s) Roberto Borrás – Ignacio Londoño
Other Lawyers Laura Galeano; Paola Valderrama