Cyntia's Feed
Jan 11, 2013

Tycoon Slim’s retail arm to raise $720 million with share offer

MEXICO CITY (Reuters) – Tycoon Carlos Slim’s retail unit said it plans to relist on the Mexican stock exchange, offering a 15.2 percent stake to raise some $720 million to fund expansion plans, including possible acquisitions.

Grupo Sanborns, the retail arm which accounts for about half of sales for Slim’s conglomerate Grupo Carso (GCARSOA1.MX: Quote, Profile, Research, Stock Buzz), operates coffee shops, restaurants and department stores. It previously traded in Mexico but delisted some years ago.

Jan 10, 2013

Tycoon Slim retail arm plans listing, share sale abroad

MEXICO CITY, Jan 10 (Reuters) – Grupo Sanborns, the retail
arm of tycoon Carlos Slim’s conglomerate Grupo Carso
, said on Thursday it plans to relist on the
Mexican stock exchange and offer its shares to institutional
buyers abroad.

Grupo Sanborns, which operates coffee shops and its
name-sake restaurant and retail chain which offers clients
anything from flashy ties to ornaments and flatscreen TVs,
delisted from the Mexican stock exchange some years ago.

Nov 28, 2012

Banorte to buy BBVA pension fund in $1.6 billion deal

MEXICO CITY (Reuters) – Grupo Financiero Banorte SAB de CV (Banorte), which runs one of Mexico’s biggest financial groups, said on Tuesday it has reached a deal to buy a local pension fund owned by Spain’s Banco Bilbao Vizcaya Argentaria S.A. (BBVA) in a deal valued at $1.6 billion.

The cost of the acquisition of the Bancomer pension fund will be split in half between Banorte (GFNORTEO.MX: Quote, Profile, Research, Stock Buzz) and the Mexican Social Security Institute, a state-run health organization. The two co-own the Afore XXI Banorte pension fund in Mexico.

Nov 27, 2012

Cemex sees cement demand rising as U.S. market rebounds

MEXICO CITY, Nov 27 (Reuters) – Mexico’s top cement maker,
Cemex, expects stronger results at its U.S. operations between
2013 and 2016, suggesting the recovery of one of its top markets
is under way after nearly four years of struggle.

Karl Watson, president of Cemex USA, told analysts during a
presentation on Tuesday the company expects U.S. housing starts
to increase 16 percent next year, reaching 873,000. The company
forecast U.S. residential sector cement demand will increase by
14 percent in 2013.

Nov 17, 2012

Tycoon Slim invests in troubled Spanish team Real Oviedo

MEXICO CITY (Reuters) – The world’s richest man, Carlos Slim, is set to become the top shareholder in troubled Spanish soccer team Real Oviedo after investing 2 million euros ($2.4 million) in the club, his third known sports acquisition so far this year.

Real Oviedo, once a top team, has gradually lost its luster amid deep financial and labor troubles. They last played in the top flight in 2001 and are now down in the regional Segunda B (third tier) and are currently fourth, five points behind leaders Tenerife.

Nov 17, 2012

Soccer-Tycoon Slim invests in troubled Spanish team Real Oviedo

MEXICO CITY, Nov 17 (Reuters) – The world’s richest man, Carlos Slim, is set to become the top shareholder in troubled Spanish soccer team Real Oviedo after investing 2 million euros ($2.4 million) in the club, his third known sports acquisition so far this year.

Real Oviedo, once a top team, has gradually lost its luster amid deep financial and labor troubles. They last played in the top flight in 2001 and are now down in the regional Segunda B (third tier) and are currently fourth, five points behind leaders Tenerife.

Oct 16, 2012

Slim-backed firm plans IPO, launching cement maker

MEXICO CITY, Oct 16 (Reuters) – A private Mexican industrial
conglomerate part-owned by billionaire Carlos Slim plans to list
shares on the local exchange and is launching a new cement
company.

Privately-held conglomerate Elementia plans an initial
public offering in the medium term, Chief Executive Eduardo
Musalem said on Tuesday, and it is opening a cement company that
aims to supply 3 percent of the Mexican market by next year.

Oct 15, 2012

Cemex sees weaker volumes, eyes Colombia listing soon

MEXICO CITY, Oct 15 (Reuters) – Cemex, Mexico’s leading
cement maker, anticipated on Monday weaker consolidated volumes
for the year hurt by Europe’s tepid performance and said the
listing of one of its units in the Colombian market could happen
soon.

Cemex, which also posted on Monday a narrower quarterly loss
helped by stronger results at its key Mexican and U.S. markets
and gains on financial instruments, sees 2012 consolidated
cement volumes down by 1 percent, compared to a previous view of
1 percent growth.

Sep 6, 2012

Mexican tycoon Slim’s pro football teams could eye listing

MEXICO CITY (Reuters) – Carlos Slim’s new professional football teams Leon and Pachuca are considering listing on the stock exchange as the tycoon seeks to break TV networks’ stranglehold on sports broadcasting.

No other Mexican sports teams are publicly owned and the move would give the two teams access to more resources to buy in better players and invest in youth academies.

Sep 6, 2012

Mexican tycoon Slim’s pro soccer teams could eye listing

MEXICO CITY (Reuters) – Carlos Slim’s new professional soccer teams Leon and Pachuca are considering listing on the stock exchange as the tycoon seeks to break TV networks’ stranglehold on sports broadcasting.

No other Mexican sports teams are publicly owned and the move would give the two teams access to more resources to buy in better players and invest in youth academies.