Stocks

Mexico

20Views
Spread the love


© Reuters.

MEXICO CITY (Reuters) – Mexican conglomerate Alfa (MX:) said on Friday it plans to spin off the entire ownership of its 75% stake in car part business Nemak (MX:), sending Alfa’s shares surging over 20%.

If shareholders approve the proposal at a meeting on Aug. 17, they would receive one share of Controladora Nemak for each of their Alfa shares. They would also retain share ownership in Alfa’s equity.

“We plan a gradual and orderly transition process to make Nemak an independent business,” Alfa President Alvaro Fernandez Garza said in a statement.

Controladora Nemak would be listed on the Mexican stock exchange following the spin-off, Alfa said.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.



Leave a Reply