GENTERA TO ACQUIRE A MINORITY EQUITY INTEREST OF CONCRDITO
December 21 2017 - 4:56PM
BMV General Information
MEXICO CITY, DECEMBER 21, 2017 GENTERA, S.A.B. DE C.V., (GENTERA)
(BMV: GENTERA*) INFORMS THE AGREEMENT TO ACQUIRE A MINORITY EQUITY
INTEREST OF CONCRDITO, COMPANY CONSTITUTED BY FIN TIL S.A. DE C.V.
SOFOM ENR AND COMFU S.A. DE C.V. THIS MULTIPLE PURPOSE FINANCIAL
INSTITUTION (SOFOM) SPECIALIZES ON CONSUMPTION CREDITS AND
OPERATESIN MORE THAN 20 MEXICAN STATES. THE PS. 2,613 MILLION PESOS
INVESTMENT WILL BE PAID WITH GENTERAS RESOURCES AND INCLUDES A
36.8% STAKE OF CONCRDITOS CAPITAL STOCK AND PS. 500 MILLION IN
CONVERTIBLE DEBT. GENTERAS CEO ENRIQUE MAJS EXPLAINED HOW THIS
OPERATION IS ALIGNED WITH OUR COMPANY STRATEGY. WE BELIEVE
CONCRDITOS BUSINESS MODEL ADDS VALUE TO GENTERA AND ENABLES US TO
DIVERSIFY THE WAY WE SERVE OUR CLIENTS. AS THIS IS A MINORITY
INTEREST INVESTMENT CONCRDITO WILLMAINTAIN UNCHANGED THE MANAGEMENT
AND OPERATION OF ITS BUSINESS. ALLOWING GENTERA TO TAKE PART IN
THEIR BOARD AND MAINTAIN FOCUS ON OUR TRANSFORMATION AND PRIORITIES
OF 2018.
GENTERAS M&A EXECUTIVE DIRECTOR JAVIER FERNNDEZ CUETO NOTED:
THIS TRANSACTION IS A CLEAR COMMITMENT OF GENTERA TO
CREATECOLLECTIVE VALUE, AND FULFILL OUR PURPOSE OF DELIVERING
BETTER AND PERSONALIZED FINANCIAL SOLUTIONS TO MORE PEOPLE.GENTERA
RECOGNIZES THE PROGRESS OF THE BUSINESS THAT THE FOUNDING PARTNERS
AND EMPLOYEES OF CONCRDITO HAVE ACHIEVED.THIS TRANSACTION IS
SUBJECT TO THE CORRESPONDING AUTHORITIES APPROVALS.