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Grupo Financiero Banorte SAB De CV Buys Out Mexican Joint Ventures Partner Generali For $857.5 Million From Assicurazioni Generali SpA-DJ


Tuesday, 11 Jun 2013 10:47am EDT 

Dow Jones reported that Grupo Financiero Banorte SAB De CV plans to buy out minority stakes in pension and insurance joint ventures from Italian partner Assicurazioni Generali SpA for $857.5 million. Banorte said in a statement that it reached the decision to purchase Generali's 49% share in the joint ventures because it felt that the existing structure doesn't allow those businesses to reach their full growth potential. Banorte said it is analyzing alternatives to finance the acquisition, and that the deal still requires regulatory approval. 

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