Grupo Financiero Banorte SAB de CV Announces Authorization To Merge Ixe Banco And Fincasa Hipotecaria With Banco Mercantil del Norte SA de SV
Grupo Financiero Banorte SAB de CV (GFNORTE) announced that, in compliance with the relevant events published during fiscal years 2010 and 2011, GFNORTE and Ixe Grupo Financiero SAB de CV (Ixe) have obtained authorization for the merger of the two financial groups and on May 24, 2013 all the legal aspects of the merger of Ixe Banco SA (Ixe Banco) and Fincasa Hipotecaria SA de CV (Fincasa Hipotecaria) by incorporation into Banco Mercantil del Norte SA (Banorte) became effective. In addition, GFNORTE announced a divestment of Banorte in Solida Administradora de Portafolios SA de CV (Solida), through the split of Banorte and merger of Solida by incorporation into Ixe Soluciones SA de CV (Ixe Soluciones), which will change its name into Solida Administradora de Portafolios SA de CV. As a result, Ixe Banco, Fincasa Hipotecaria and Solida cease to exist.
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