Mexico in Brief
From Mexico in Brief Newsletter
O’DONELL CAPITAL TO INVEST IN MEXICO.
Real estate investment group O’Donell Capital Management announced that it will invest approximately U.S.$300 million in the development and operation of Mexican real estate industrial assets in the next three years. No specific details on current projects have been revealed.
INVESTING IN SHOPPING MALLS CONTINUES IN MEXICO FOR 2019.
During 2019 the opening of malls and entertainment centers will continue in Mexico; the following stand out: “La Perla District” in the Mexican State of Jalisco, with an investment of approximately U.S.$290 million; “Atana Lindavista” in Mexico City, with an investment of approximately U.S.$137 million; “La Isla Cancun 2”, in the Mexican State of Quintana Roo, with an investment of approximately U.S.$125 million; “Explanada Pachuca”, in the Mexican State of Hidalgo, with an investment of approximately U.S.$90 million; and “Paseo Metepec”, in the Mexican State of Estado de Mexico, with an investment of approximately U.S.$160 million.
ARISTON THERMO ACQUIRES CALOREX.
Italy-based global heating systems’ manufacturing company Ariston Thermo acquired Calorex, a Mexican heater manufacturing company, from the Mexico-based company Grupo Industrial Saltillo for approximately U.S.$139 million.
AMERICA MOVIL WILL ACQUIRE TELEFONICA´S CENTRAL AMERICAN ASSETS.
Mexico-based America Movil announced the acquisition of the Guatemalan and El Salvadorian operations of Spain-based multinational telecommunications company Telefonica, for approximately U.S.$650 million.
ALPEK ACQUIRES RECYCLING PLANT IN THE U.S.
Mexico-based multinational manufacturing company Alpek acquired a food grade PET recycling plant in the city of Richmond, Indiana from U.S.-based recycling company Perpetual Recycling Solutions. Additionally, Alpek agreed to sell two cogeneration energy plants for approximately U.S.$800 million to a subsidiary of the England-based ContourGlobal.
IBERDROLA TO CONTINUE INVESTING IN MEXICO.
Spain-based energy giant Iberdrola will invest approximately U.S.$2.5 billion in Mexico between 2020 and 2022, seeking to increase the capacity of the electricity system with more than 2,000 MW. Said investment will be added to the already invested U.S.$10 billion in the country by Iberdrola.
NATIONAL HYDROCARBONS COMMISSION AUTORIZES TWO NEW PROJECTS IN MEXICO.
The Mexican National Hydrocarbons Commission, or CNH, authorized Servicios Multiples de Burgos, a perforation project with an investment of approximately U.S.$128 million in the Mexican State of Nuevo Leon. Additionally, CNH authorized Jaguar Exploracion y Produccion, an exploration project in the Mexican State of Veracruz with an investment of approximately U.S.$33 million.
MEXICO RAISES CAPITAL FROM THE GLOBAL DEBT MARKET.
The Ministry of Economy announced that Mexico had successfully raised approximately U.S.$2 billion from a 10-year dollar-denominated bond with a 4.5% coupon, which was oversubscribed four times with 320 institutional investors taking part in the deal.