Santander Seeks $4.2 Billion I.P.O. of Its Mexican Unit
The listing would be one of the largest I.P.O.'s ever in Mexico, and comes as the country’s economy continues to grow on the back of strong local demand. At the same time, American depository receipts...
View ArticleA Legal Brawl in Mexico as Bond Buyers Look On
The outcome of a bankruptcy reorganization in Mexico could put a crimp in Mexican companies’ ability to sell corporate debt.
View ArticleSherwin-Williams to Acquire Mexican Paint Maker for $2.4 Billion
Sherwin-Williams has agreed to acquire privately held Consorcio Comex, Mexico's leading paint producer, for $2.4 billion, including debt.
View ArticleWhen Corruption Helps the Bottom Line
A recent study found that the most corrupt countries like Venezuela are actually better for investors than moderately corrupt countries like Morocco or Mexico.
View ArticleBondholders and Mexico Glass Maker Reach Deal
The Mexican tycoon David Martinez helped Vitro, a big Mexican glass maker, reach a deal with American bondholders after a dispute over repayment.
View ArticleAfter Stagnation, a Revival for Mexico’s Financial Sector
Mexico’s growth prospects are attracting investment banks and investors hunting for ways to gain greater exposure to international markets.
View ArticleCitigroup Affiliate’s Troubles Multiply as Money-Laundering Subpoenas Follow...
Banamex USA, a banking affiliate that handles transactions across the Mexican border, has become entangled in an investigation into compliance with rules on the monitoring of financial transfers.
View ArticleBanamex Fraud Exposes Challenges for Citi in Mexico
A recent $400 million swindle against a Citibank affiliate in Mexico demonstrates the systemic challenges of finding safe lending clients in regions subject to cronyism and sudden policy shifts.
View ArticleCriminal Inquiry Said to Be Opened on Citigroup
Federal authorities have opened a criminal investigation into a recent $400 million fraud involving Citigroup’s Mexican unit, according to people briefed on the matter, one of a handful of government...
View ArticleCiti Fires 11 More in Mexico Over Fraud
Among those fired were four of the bank’s top executives in Mexico: its head of corporate banking, head institutional risk officer, head of trade finance and head of trade and treasury solutions.
View ArticleMexico Authorizes Arrests in Fraud at Citigroup Unit
Mexican authorities declined to say how many or which former executives of the Citigroup subsidiary Banamex were being sought.
View ArticleK.K.R. to Invest in Acciona’s Renewable Energy Arm
K.K.R. has agreed to pay about $567 million for a one-third stake in the international renewable energy business of the Spanish company Acciona and will help finance future growth in Acciona's...
View ArticleAT&T Sells Its Stake in Mexican Telecom América Móvil to Carlos Slim
The sale comes as AT&T prepares to acquire the satellite operator DirecTV.
View ArticleImmigrants From Latin America and Africa Squeezed as Banks Curtail...
Under regulatory pressure, many banks are ending or limiting money transfers, most likely meaning higher costs for immigrants sending money home.
View ArticleTelefónica Says It Is in Talks to Buy a Mexican Rival
Telefónica of Spain says it is negotiating with an unidentified Mexican company about a takeover deal that would allow Telefónica to better compete with América Móvil.
View ArticleHeineken to Sell Mexican Packaging Unit to Crown Holdings
The deal values the container unit Empaque at about $1.2 billion and would make Crown Holdings the second-largest beverage can producer in North America.
View ArticleChief of Citigroup’s Banamex Unit in Mexico Steps Down
Javier Arrigunaga, a 12-year veteran of Banamex’s management team, is the most prominent executive to leave the bank after a $400 million fraud involving a large Banamex client.
View ArticleAnother Scandal Hits Citigroup’s Moneymaking Mexican Division
The sprawling global bank also said it was scaling back its consumer business across Europe, Latin America and Asia.
View ArticleAT&T to Buy Mexican Wireless Provider Iusacell for $2.5 Billion
For AT&T, the move fit into a strategy that it has articulated for more than two years: diversifying its revenue by moving into foreign markets.
View ArticleMexico’s Bold Move on Debt Restructuring Contracts
Mexico has filed in the United States for an issue of bonds that would include new, improved collective action clauses specifically written to keep holdout investors like Paul Singer at bay.
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