GUATEMALA Law and Practice Contributed by: Ignacio Andrade Aycinena, Alejandro Solares Solares, Claudia Pontaza Rubio and Lester Meda Ruano, Lex Atlas
Lex Atlas Avenida Reforma 9-55 zona 10 Edificio Reforma 10 Nivel 3 Oficina 302 y 303. Guatemala Guatemala 01010 Tel: +502 2317 1515
Email: info@lexatlas.com Web: www.lexatlas.com
1. Trends 1.1 M&A Market
Key Sectors Guatemala’s two largest telecommunications opera - tors announced key investments in infrastructure during 2025, leading to activities in the restructuring of the related market and to movements in the M&A segment. In the energy sector, a new bidding process for gen - eration and transportation expansion which had been postponed was announced, and the final bidding rounds took place in February and March of 2026. International bank loan and multilateral loan activity picked up during the latter part of 2025. 1.2 Key Trends Top trends in Guatemala in 2025 were as follows. • In the industrials sector, Cargill and Nestle announced plans to invest and expand their joint activities. • The call centre sector grew consistently at the same rates as 2024 per annum. In call centres and the business process outsourcing (BPO) sector, plans for increased capacity were developed, with 1000 fresh jobs created. • Public-private partnerships in infrastructure are expected to begin activities in 2026. • The PEG-5 bidding process, the largest electricity generation tender in Guatemala’s history, is expect - ed to take place in 2026. • A port renewal process was begun with planning steps through the US Corps of Engineering.
During 2025, the M&A Market in Guatemala focused on large investments by domestic companies as well as groups outside of Guatemala. Laws were enacted in 2025 supporting the creation of new investments in transportation and infrastructure, although this did not result in an improvement in logistics in the coun - try. Investments and acquisitions were made in the telecoms market via the two largest infrastructure operators. Additional investments were made in the electricity market in a hydropower operation through the installation of a new business process organisa - tion and via improvements in the transmission net - work. The year ended with the largest acquisition of a US operation by a Guatemalan group and with the investment of a Honduran bank by Guatemala’s largest lender. The country called for new generation projects through long-term generation contracts in the latter part of 2025, with offers opened in February 2026. Based on Guatemalan Central Bank statistics, total inbound investment exceeded USD500 mil - lion. Multilateral and International Bank Loan Activity also picked up during 2025 through loans exceeding USD1.1 billion to two of the largest banks in Guate - mala from the International Finance Corporation. A number of government initiatives also resulted in the new Infrastructure Investment Law. Economic activity in Guatemala increased by 4% in 2024, supported by money remittances from abroad, which have contin - ued to increase.
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