Gonzalez Calvillo and Ritch, Mueller, Heather y Nicolau advised on the deal
ojitz Corporation together with Drako Capital de Mexico, S.A. de C.V. has established SOCAFI, S.A. de C.V. in the United Mexican States succeeding the business of major Autofinancimiento company Auto Financiamiento Automotriz S.A. de C.V., which uses a self-financing system. SOCAFI will continue to provide the AFASA brand’s services.
Partnering with authorized dealers of Volkswagen and SEAT vehicles—the brands boasting a high market share in Mexico—the AFASA service provides opportunities through SFS for consumers who cannot enjoy loans to purchase a new vehicle. In recent years, new-vehicle sales in Mexico have reached 1.5 million vehicles per year. At the same time, 60% of laborers in Mexico currently do not possess a bank account. In this climate, there is a steady demand for purchasing cars through SFS, and demand for the service is also expected to demonstrate steady growth in the future.
Gonzalez Calvillo advised Sojitz Corporation with Gonzalo A. Vargas (Picture), Enrique A. Ávila, Cristina Massa Sánchez, Jorge Moreno Balcázar, Raúl Paniahua Reyes and Daniel González Contreras.
Ritch, Mueller, Heather y Nicolau, S.C. advised the Selling Shareholders of Autofinanciamiento Automotriz, S.A. de C.V. with Jean Paul Farah Chajín, Héctor Cárdenas Ortega, Eric Silberstein and Ana Jáuregui de Villa.
Involved fees earner: Enrique Avila – Gonzalez Calvillo Abogados; Jorge Moreno Balcázar – Gonzalez Calvillo Abogados; Daniel González Contreras – Gonzalez Calvillo Abogados; Cristina Massa – Gonzalez Calvillo Abogados; Raúl Paniahua Reyes – Gonzalez Calvillo Abogados; Gonzalo Vargas – Gonzalez Calvillo Abogados; Héctor Cárdenas Ortega – Ritch, Mueller, Heather y Nicolau, SC; Jean Paul Farah Chajín – Ritch, Mueller, Heather y Nicolau, SC; Ana Jáuregui De Villa – Ritch, Mueller, Heather y Nicolau, SC; Eric Silberstein Lerner – Ritch, Mueller, Heather y Nicolau, SC;