Mexican Regulator Approves $1.6 Billion Deal For Banco Bilbao Vizcaya Argentaria S.A. Pension Fund By Grupo Financiero Banorte SAB de CV And Mexican Social Security Institute-Reuters
Reuters reported that Mexico's antitrust agency approved the $1.6 billion acquisition of Banco Bilbao Vizcaya Argentaria S.A.'s (BBVA) pension fund by Grupo Financiero Banorte SAB de CV and the Mexican Social Security Institute (IMSS), Banorte said. Banorte and the IMSS, a state-run health organization, will operate the pension fund. The deal, announced late last month and approved by Mexico's pension fund regulator, has all the necessary authorizations to complete the acquisition, the bank said.
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