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Mexico in Brief, our monthly newsletter, is available in this section. Our Mexico in Brief summarizes the most relevant business news in Mexico, and also lists the main Mexican economic indicators. Our file is organized by issue number and issue date. Please consult it at your convenience and send us any comments through the link appearing below, or emailing us at .(JavaScript must be enabled to view this email address).
From Mexico In Brief Newsletter
Abengoa Mexico, a subsidiary of Spanish-based Abengoa, recently announced that it will construct an electric power station in the Mexican State of Morelos for approximately U.S.$440 million, per a bid awarded to it by the Mexican Federal Electric Commission, or CFE. The power station is scheduled to be operational in two years and it will have the capacity to supply energy to approximately 280,000 homes.
Monterrey-based Coca-Cola Femsa recently announced its merger with Corporación de los Ángeles, after merging with Corporación Industrial Mexicana last September. The merger transaction was valued in approximately U.S.$785 million, including an assumption of debt for approximately U.S.$144 million. In other related news, Coca Cola-Femsa recently announced its third merger transaction of the year with Grupo Fomento Queretano’s beverage unit, a transaction valued in approximately U.S.$471 million. With these recent merger transactions Coca-Cola Femsa increases its participation in the Mexican market to 54%.
Mexican mining giant Grupo Mexico recently announced that it will invest approximately U.S.$550 million in the construction of two electric generating plants for its companies Grupo Mexicana de Cobre and Buenavista del Cobre, located in the Mexican State of Sonora. The plants, contracted to be built by German-based Siemens, are expected to be operational in 2014, supplying electricity to all cooper mines of the company. In other related news, the railway business unit of Grupo Mexico, comprised of Ferromex and Ferrosur, recently announced that it foresees an investment of approximately U.S.$284 million for railway and train maintenance for 2012.
Mexican-based hotel chain Grupo Posadas recently announced that it plans to invest approximately U.S.$500 million to open 35 hotels in Argentina, Brazil, Peru and Uruguay. The company further announced that their objective is to increase their availability in the region from 15 to 50 hotels of their Caesar Park, Caesar Business and One Hotels by 2016. Grupo Posadas currently operates 115 hotels, the majority of which are located in Mexico.
Mexican-based Grupo Aeroportuario Centro Norte, or OMA, will invest approximately U.S.$196 million over the next five years to modernize the infrastructure of the 13 airports it operates and manages in Mexico. The company further announced that it will work to expand its business and expects a two percent increase in the flow of passengers in its airports.
The Mexican Ministry of Education recently announced the requirements for the national bid for the lease of computers which will be installed in 163,000 classrooms of the 5th and 6th grades throughout the country. The Ministry of Education further announced that the lease could have a maximum lease price of approximately U.S.$1.6 billion for the five-year lifespan of the agreement.
Wal-Mart de Mexico, a subsidiary of U.S.-based Wal-Mart Stores Inc., recently announced that it concluded its investment plan in the Mexican State of Nuevo Leon for 2011, investing approximately U.S.$142 million and creating approximately 2,000 new job positions.
© Copyright 2012 J.A. Treviño Abogados S.A. de C.V.