Grupo Financiero Banorte, S.A.B. De C.V. (GBOOY: OTC Link) | MERGER OF MUTUAL FUNDS THROUGH THE PURCHASE OF BANORTE´S SERIES A SHARES BY IXE FONDOS

MERGER OF MUTUAL FUNDS THROUGH THE PURCHASE OF BANORTE´S SERIES A SHARES BY IXE FONDOS

Nov 04, 2011

OTC Disclosure News Service

Monterrey, N.L., Mexico –

Grupo Financiero Banorte, S.A.B. de CV (“GFNORTE”) (BMV: GFNORTEO) reports that as a result of the merger between GFNORTE and IXE Grupo Financiero, and as part of the integration process and the expected synergies, GFNORTE consolidated the mutual funds managed by Ixe Fondos, S.A. de C.V., Sociedad Operadora de Sociedades de Inversión, Grupo Financiero Banorte (Ixe Fondos) and Operadora de Fondos Banorte, S.A. de C.V., Sociedad Operadora de Sociedades de Inversión (Operadora Banorte).

This consolidation took place last November 1st, 2011, with the authorization of the CNBV, through the purchase of the series “A” shares by Ixe Fondos, of the 19 mutual funds that were managed by Operadora Banorte.

As a result, IXE Fondos currently manages 43 funds with assets of approximately $83 billion pesos.

We are convinced that the unification of the administration and operation of our mutual funds under the same structure, will offer better value for the benefit of GFNorte’s mutual fund customers.

 

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).

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=37514

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