Mexico: Regulators review Banorte-Interacciones merger

The General Director of Grupo Financiero Interacciones, Carlos Rojo, reported that the review process for the merger of his company with Mexican bank Banorte is already underway. The operation will be reviewed by the Ministry of Finance and the Bank of Mexico, as well as by the Federal Commission of Economic Competition (COFECE).

Rojo said that the merger is expected to be finalized in 2018, a year that will be positive, due to the electoral process this year, which is usually accompanied by an increase in infrastructure projects.

The company currently has 39 construction projects, with financing of 16 billion pesos (approximately one billion dollars). The merger process with Banorte will not stop these processes, but rather, it would improve the funding costs that the company may offer to states and municipalities.

Full Content: El Universal

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