Grupo Financiero Banorte, S.A.B. De C.V. (GBOOY: OTC Link) | MERGER BETWEEN CASA DE BOLSA BANORTE AND IXE CASA DE BOLSA

MERGER BETWEEN CASA DE BOLSA BANORTE AND IXE CASA DE BOLSA

Jan 02, 2012

OTC Disclosure News Service

Monterrey, N.L. –

In relation to the merger that took effect last April 15, 2011 between Grupo Financiero Banorte, S.A.B de C.V. (GFNORTE) (BMV: GFNORTEO) and IXE Grupo Financiero, S.A.B. de C.V. (IXE), today GFNORTE informs that all the necessary authorizations have been carried out in order to merge Casa de Bolsa Banorte, S.A. de C.V., Grupo Financiero Banorte and Ixe Casa de Bolsa, S.A. de C.V. as of January 1st, 2012.

According to these authorizations, Ixe Casa de Bolsa, S.A. de C.V. will be the merging entity, while Casa de Bolsa Banorte, S.A. de C.V will be the merged entity, by virtue of which the first one will subsist, while the second will be absorbed.

Through this merger Casa de Bolsa Banorte Ixe was created, ranking as the fourth largest in Mexico, with Assets under Management of over Ps. $ 450 billion.  

The creation of Casa de Bolsa Banorte Ixe is evidence of how Banorte and Ixe combine their experience and strength to provide greater financial service and coverage to its more than 32,000 customers. Clients will have a more robust team of economic and financial analysis to support them in their investment decisions, and will have an optimal technologic and Internet platform, among other benefits.

GFNORTE reiterates its commitment to the financial community and investors to maintain modern and transparent in information disclosure, strictly in compliance with Mexico’s “Ley de Mercado de Valores” (Securities Market Law).

 

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The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.

Article source: http://www.otcmarkets.com/stock/GBOOY/news?id=40541

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