Saturday, February 4, 2023

Banamex sale: AMLO senior government official asks Baker to ‘call off’ bid

The Banamex sales process seems to have been defined in its favor german lariatthe second richest man in our country, who made a proposal about $11 billion To take over the Banco Nacional de México.

But according to columnist Dario Celis, the businessman received “a little help” from the Mexican government by requesting from Daniel Baker’s group: get off the bench brawl,

reporter pointed out “a senior officer” The federal administration sent that message through a call to the group of presidents of the Association of Banks of Mexico (ABM).

“They showed him that the City felt more comfortable with the mining magnates group’s proposal. Germán Laria ”, he assured in his column this Tuesday.

Salis assured that Baker & Co decided to abandon the bid for Banamex only last week.

Why did City ‘turn ugly’ on Baker’s group offer?

The journalist said to this was added the fact that the City had two problems With Baker’s proposal.

“His offer was way below that, and he failed to attract more national investors,” Selis said.

He said that the proposal of the Baker Group was for 7 thousand 500 million dollarsThat could also improve to $8 billion, something that was not attractive to Citi in the end.

The bank’s second ‘inconvenience’ with the offer was most of the money was foreign, In various press conferences, President Andrés Manuel López Obrador insisted that the government preferred Banamex to return to Mexican hands.

Baker’s group sought support from the BlackRock Fund. Larry Fink, Apollo’s Mark Rowan, and sovereign wealth funds abu dhabiADIA, and SingaporeGIC.

“Finally, the foreign component of the proposal was much higher than the 55% originally forecast, leaving the possibility more Mexican businessmen will get it ”, Celis added.

Nation World News Desk
Nation World News Desk
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