Simpson Thacher Represents Morgan Stanley and UBS in US$780 Million Offering of Common Shares of Grupo Financiero Banorte
02.24.11
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Simpson Thacher represented Morgan Stanley & Co. Incorporated and UBS Securities LLC, as initial purchasers, in connection with the secondary offering and sale of common shares of Grupo Financiero Banorte, S.A.B. de C.V. owned by Gruma, S.A.B. de C.V. The common shares were registered and offered to the public in Mexico and were sold internationally to qualified institutional buyers in the United States in reliance on Rule 144A and to non-U.S. persons outside the United States in reliance on Regulation S. The transaction raised MX$9.3 billion (approximately US$780 million) in proceeds for Gruma.
Grupo Financiero Banorte is the third largest financial services holding company in Mexico, based on total deposits and loans, and provides a wide range of financial and related services principally in Mexico.
The Simpson Thacher team for this transaction included Jaime Mercado (SP), Juan Francisco Mendez (NY), William A. Langer (SP) and international associates Alejandro Osma, Joaquín Idoyaga and Ana Carolina Nomura (Capital Markets); Amie N. Broder (Tax); Andrew Pagliughi and Jenny Getsin (FINRA and Blue Sky), Lisa Wallis (Senior Law Clerk) and Fernando Burman (Paralegal).