Banorte’s $1.4 Billion Acquisition of Interacciones

White & Case et Cervantes Sainz advised on the deal

Grupo Financiero Banorte SAB finalized the acquisition of Grupo Financiero Interacciones SA, the bank controlled by Mexican billionaire Carlos Hank Rhon, in a deal that will create Mexico’s second largest bank and a behemoth in infrastructure lending. Banorte will pay about $1.4 billion in stock and cash.

Grupo Financiero Banorte S.A.B. de C.V. is a financial institution in Mexico. The Firm, led by Carlos Hank Gonzalez, Jose Marcos Ramirez Miguel, Rafael Arana, Manuel Antonio Romo Villafuerte and Jorge Eduardo Vega Camargo offers banking services, premium banking, wholesale banking, leasing and factoring, warehousing, insurance, pensions and retirement savings.

White & Case advised Grupo Financiero Banorte with Vicente Corta (Picture), Álvaro E. Garza Galván, Carlos Mainero and Rebeca García López.

Cervantes Sainz, S.C. advised Grupo Financiero Interacciones with Diego Martínez Rueda and Octavio L. Hernández Negretti.

 

Involved fees earner: Diego Martínez Rueda-Chapital – Cervantes y Sainz; Octavio Hernández Negretti – Cervantes y Sainz; Vicente Corta Fernández – White & Case; Álvaro Garza-Galván – White & Case; Carlos Mainero Ruíz – White & Case; Rebeca García López – White & Case;

Law Firms: Cervantes y Sainz; White & Case;

Clients: Grupo Financiero Banorte S.A.B. de C.V.; Grupo Financiero Interacciones, S.A. de C.V. ;

 

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Author: Ambrogio Visconti.