Bloomberg - Desarrolladora Homex’s bonds are signaling that not even a lifeline from billionaire Carlos Slim can prevent Mexico’s biggest homebuilder from joining industry rivals in restructuring its debt.Companies
Grupo Hevi said to be exploring sale
Bloomberg - Grupo Hevi, the closely held owner of Mexico’s Telecable TV service, has hired Barclays to explore a sale. A sale would put one of the biggest remaining independent cable companies in Mexico up for grabs. The firm could fetch more than $500 million.
www.bloomberg.com/news/2013-05-18/mexico-s-grupo-hevi-said-to-hire-barclays-to-explore-sale.html
Plaintiffs in Yahoo case say they will appeal court ruling
Reuters - Two Mexican firms embroiled in a contractual dispute with Yahoo will appeal a court ruling that overturned an earlier $2.75 billion judgment in their favor, a director of the companies said on Friday.
news.yahoo.com/plaintiffs-mexico-yahoo-case-appeal-court-ruling-205028780.html
Bankruptcies loom large over Mexican homebuilders
Reuters - Struggling with slowing home sales and a lack of liquidity, Mexico's top three homebuilders - Homex, Geo and Urbi - might have to seek bankruptcy protection if they fail to reach an agreement with creditors in the short term.
Pemex makes third deep-water discovery
Bloomberg - Petroleos Mexicanos, the world’s fourth-largest oil producer, made its third ultra-deepwater discovery on the Mexican side of the Perdido basin in the Gulf of Mexico. Volumes still are being assessed and no estimate was given.
Femsa eyes transforming pharmacy chains
NACS - Fomento Economico Mexicano (FEMSA), which owns OXXO, a chain of more than 10,500 convenience stores across Mexico, now wants to expand the pharmacy chains it recently purchased: the Farmacias Yza and Farmacias YM Moderna.
www.nacsonline.com/News/Daily/Pages/ND0517136.aspx#.UZYuUsq9tL8
Japanese auto suppliers boosting Engel business
Plastics News - Engel Holding says its sales in Mexico of injection molding machines, robots and spare parts soared in fiscal 2012, boosted by purchases from a hitherto ignored source: Japanese Tier 1 auto parts suppliers.
Marsh & McLennan offering organized crime insurance
Reuters - The Mexican unit of insurer Marsh & McClennan Companies said it is launching a policy that will cover terrorism, organized crime and sabotage, the first such policy available in a country wracked by drug-related violence.
www.insurancejournal.com/news/international/2013/05/14/291798.htm
Deutsche Bank sues Urbi over loan
Reuters - Deutsche Bank has filed suit against Mexican homebuilder Urbi seeking $61 million plus interest and expenses after Urbi failed to make loan payments, according to court documents.
www.reuters.com/article/2013/05/09/us-mexico-urbi-deutschebank-idUSBRE9480Y920130509
Herdez acquires 99.8% stake in Nutrisa
Sentido Comun - Grupo Herdez, one of the largest producers of processed foods in Mexico, announced that it has acquired a 99.8 percent stake in the Nutrisa Group, a marketer of frozen yogurt and natural foods and other products.
Banking reform bill presented to boost growth
Financial Times - Mexico’s centrist government announced it would send a financial reform bill to Congress that seeks to boost economic growth by making it easier and cheaper for companies to access credit.
www.ft.com/intl/cms/s/0/49d8891c-b823-11e2-bd62-00144feabdc0.html#axzz2SnzSZHX5
