Alliance Boots GmbH completed the acquisition of 0.94% stake in Farmacias Benavides, S.A.B. de C.V. (BMV:BEVIDES B) for MXN 51.2 million.
December 03, 2014 at 12:00 am EST
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Alliance Boots GmbH made an offer to acquire 4.38% stake in Farmacias Benavides, S.A.B. de C.V. (BMV:BEVIDES B) for approximately MXN 240 million on October 13, 2014. Alliance Boots will purchase 17.89 million at a price of MXN 13.25 per share. The offer starts from November 4, 2014 and ends on December 2, 2014. The Board of Directors of Farmacias Benavides, S.A.B. de C.V. approved the offer. The price that Farmacias Benavides will set for its shares will be established by the Board of Directors of the company and will require the authorization of the Comisión Nacional Bancaria y de Valores. Grupo Financiero BBVA Bancomer, S.A. de C.V. acted as financial advisor to Farmacias Benavides, S.A.B. de C.V. HSBC Casa de Bolsa, S.A. de C.V will act as intermediary for the transaction. Olivier Péronnet and Lucas Robin of FINEXSI Expert & Conseil Financier acted independent expert for the transaction.
Alliance Boots GmbH completed the acquisition of 0.94% stake in Farmacias Benavides, S.A.B. de C.V. (BMV:BEVIDES B) for MXN 51.2 million on December 3, 2014. Alliance Boots acquired 3.8 million Farmacias Benavides shares.
Farmacias Benavides SAB de CV is a Mexico-based company primarily engaged in the pharmaceutical and chemical industry. The Company operates a network of over 700 drug stores located nationwide under the Farmacias Benavides name. Through its network of drug stores, it sells a variety prescription and over the counter (OTC) medicines, cosmetics, personal and baby care products and toiletries, as well as it also provides such related services as laboratory samples, home delivery, prescription laboratory, online pharmacy and photo processing services. As of December 31, 2011, the Company owned such subsidiaries as Servicios Operacionales Benavides SA de CV, Benavides de Reynosa SA de CV and Servicios Logisticos Benavides SA de CV, and Fasa Investment Limitada which was its majority shareholder with 85.25% of its interest.
FARMACIAS BENAVIDES, S.A.B. DE C.V. 
