Grupo Mexico Will Sell Highway Business for $406 Million
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Grupo Mexico Will Sell Highway Business for $406 Million
Grupo Mexico will sell its highway business for 7.7 billion pesos ($406 million) to local investment trusts FIBRAeMX and FEXI. Proceeds from the sale of around 80% of Concesion
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Grupo Mexico, the copper mining conglomerate controlled by Mexican billionaire German Larrea , will sell its highway business for 7.7 billion pesos ($406 million) to local investment trusts FIBRAeMX and FEXI in the latest move to restructure the company.
Proceeds from the sale of around 80% of Concesionaria de Infraestructura del Bajío, known as CIBSA, and some 99% of shares of Operadora de Infraestructura del Bajío, or OIBSA, will go toward investment projects in Mexico and be spread across the company’s other businesses, Grupo Mexico announced in a statement Bloomberg Terminal on Friday.
Source: Bloomberg.com | View original article