This week, Inbursa announced that it is still interested and in the process of buying the bank, but it will do so with the help of partners. Who else is still in this fight to acquire one of the oldest banks in Mexico?
Banorte
The Financial Group of Carlos Hank González was one of the first to raise its hand when the sale of the bank was announced. In an interview with Expansión, Marcos Ramírez, CEO of the Group said that Banorte has been built from the purchase of other financial institutions.
In his last quarterly report, the manager said that they are in a period of silence, so he could not give details of the purchase. However, it was revealed that it had hired the services of Bank of America (BofA) as advisors for the purchase.
Inbursa
The bank owned by Carlos Slim is also one of those interested in acquiring one of the oldest banks.
The Financial Group said that it will go hand in hand with other investors in the bid and that it plans to have control or the majority of that association. Frank Aguado, director of Investor Relations of Grupo Financireo Inbursa, said that they will look for a reasonable price for Banamex.
Mifel
The financial institution also plans to make the acquisition with other investors. Mifel is the 18th largest bank in the country by total assets, with less than 1% of the market.
Its director, Daniel Becker, is the president of the Association of Banks of Mexico (ABM) since March 2021.
Mexico Group
Germán Larrea’s conglomerate, which recently left the construction of Section 5 of the Mayan Train, is one of those interested in the purchase of Banamex.
Peruvian miner Southern Cooper Corp, which is 89% owned by Grupo México, increased its most recent dividend as its parent cut its most recent payout, suggesting the company may be hoarding cash for a potential purchase.
Javier Garza
Javier Garza, founder of a business group that supports the López Obrador administration, told Reuters he receives about four calls a day from potential investors interested in Citi’s assets.
He says that his main goal is to return the bank to Mexican hands, a task that he shares with President López Obrador, with whom he assured that he maintains fluid communication.
In what part of the process does the purchase go?
Since the end of last March, those interested in buying the bank have had to request a data room or data room in which the bank’s numbers are disclosed, under the strictest confidentiality: cost of its infrastructure and accounting data, etc.
The interested parties present economic proposals and until the end of this year or the beginning of 2023 it will be announced who acquires the bank.
