Announcement to Investors
Mexico city, October 17, 2011 "Grupo México, S.A.B. de C.V. (GMexico) announces to its stockholders that on October 14, 2011, a Delaware court entered a decision on a case that challenged the 2005 merger of a Minera México subsidiary with Southern Copper Corporation. The Court’s decision found that Southern Copper Corporation paid Americas Mining Corporation (a subsidiary of GMexico) an excessive price for the Minera México stock. The Court has yet to determine the manner in which this excess payment will be compensated. GMexico holds over 80% of Southern Copper Corporation.
GMexico strongly disagrees with the Court’s decision as it imposes rules making this type of operation impossible and believes the decision fails to adhere to Delaware law or the evidence presented during the case, and will file an appeal against the decision with the Delaware Supreme Court.
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Grupo México, S.A.B. de C.V.
Campos Elíseos No. 400 Col. Lomas de Chapultepec
Del. Miguel Hidalgo C.P. 11000 México, D.F.
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