[ad_1]
Grupo Banorte becomes the second largest bank in Mexico, behind BBVA Bancomer, after the Federal Commission for Economic Competition (Cofece) approved its merger with Grupo Financiero Interacciones last night. 19659003] "Grupo Financiero Banorte informs the public investor that on this date (yesterday) the Federal Commission for Economic Competition has notified GFNorte and Grupo Financiero Interacciones of authorization of concentration and unconditional," said M Banorte in a statement
. becomes the second largest bank in Mexico, in the value of assets, loan portfolio and deposits in a transaction estimated at 26 thousand 557 million pesos, according to analysts.
The financial groups also received a letter from the Secretariat of Finance and Public Credit (SHCP) to carry out the corresponding administrative and administrative acts.
As agreed by the parties that the transaction will be completed no later than July 31, 2018; in this regard, Interacciones will be the merged company and GFNorte, the merger.
- The Dato: Raise the size of its portfolio and the liquidity of its shares are part of the profits expected by the Banorte Group of
The union also includes Interacciones Casa de Bolsa, Casa de Bolsa Banorte, Aseguradora Interacciones, Banorte Séguros, Grupo Financiero Banorte, Interaciones Sociedad Operador de Fondos de Inversión, Operador de Fondos Banús, among other units of these financial groups
"GFNorte reiterates to the public investor that it will continue to follow the international best practices of corporate governance and disclosure of information to the public investor. "
It must be remembered that 50% of the transaction would be paid in cash and the other 50 percent with an exchange of shares. Banorte is the largest bank in the hands of Mexican investors and its president, Carlos Hank González, as well as Carlos Hank González, his son, who was also president of Interacciones.
In December 2017, 71.6% of Banorte shareholders, with the right to vote, supported the acquisition.
Source link
