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CIBanco acquired Deutsche Bank Mexico’s trustee and common representation business in Mexico
CIBanco acquired Deutsche Bank Mexico’s trustee and common representation business in Mexico through a spin–off / merger transaction approved by CNBV and COFECE.
In addition to the usual intricacies of the transfer of an active business, in this case both parties of this transaction are regulated entities, this deal implied filings and authorizations by both the CNBV and COFECE, including Banco de Mexico’s favorable opinion.
Furthermore, certain common representations of public issuances had to be either carved out or individually substituted due to CIBanco’s prior participation in such issuances in a different capacity.
This transaction closed during CNBV’s offices COVID-19 confinement period, which implied additional efforts from all parties and counsel.
With the participation of Partners Michell Nader S., Gunter Schwandt G., Alejandro Mendiola D., Adalberto Valadez, Ana Paula Telleria R., Mónica Ramos C. and Associates José Manuel Zavala B. and Daniella I. Ramírez.