[ad_1]
Grupo Financiero Banorte is becoming the second largest bank in Mexico in terms of assets, portfolio and deposits, once the merger with Interacciones completed, analysts believe that although the news is positive, with greater exposure to government credit and infrastructure increases risks and uncertainty before presidential elections and local elections in some states of the Republic
Analysts of Ve por Más, considered the downstream given by Cofece as positive but with reservations
"The merger will position Banorte as the second largest bank ] in Mexico through its assets, portfolio and deposits.The station expects to create synergies in the first 18 months, mainly in the cost of financing and operating expenses (reduced 65 percent), "the analysts said.
They mentioned that the target price for Grupo Financiero Banorte (GFNorte) Grupo Financiero Interacciones ( GFInter ) at the end of this year would be 131.2 pesos and 94, 8 pesos, respectively, with a potential of 15.4% and 0.5% against 7.4% expected for the price index and quotes.
Analysts said the transaction consists of a cash payment of 50.8 pesos per GFinter share and the rest with GFNorte shares at a rate of 0.4065 times per GFinter share. On this basis, the implicit price that would be paid today is 97.1 pesos per share of GFinter.
Source link
