By: Mariana Calvo R.
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Advising BlackRock in structuring the acquisition of Citibanamex’s asset management business in Mexico
Nader, Hayaux & Goebel provided tax advice to BlackRock in structuring the acquisition of Citibanamex’s asset management business in Mexico. As part of the transaction, the parties will enter into a distribution agreement that will allow BlackRock to offer asset management products across Mexico through Citibanamex’s network.
BlackRock’s purchase doubles its AUM in Mexico from $31 billion to $62 billion. The acquisition complements BlackRock’s current AUM focus on institutional investors with services to retail investors. The combined entity will have assets split equally between institutional and retail investors. The deal includes a distribution agreement, which allows BlackRock to offer asset management products through Citibanamex’s network and to more than 20 million clients across Mexico.