Grupo México UPAS completed the acquisition of 95.47% stake in Planigrupo LATAM, S.A.B. de C.V. (BMV:PLANI *) from Southern Cross Group and others for MXN 4.5 billion.
April 12, 2023
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Grupo México UPAS agreed to acquire Planigrupo LATAM, S.A.B. de C.V. (BMV:PLANI *) from Southern Cross Group and others for MXN 4.7 billion on September 2, 2022. The offer share is MXN 14.2. The deal remains subject to approval from regulators, shareholders and Planigrupo LATAM, S.A.B. de C.V. (BMV:PLANI *) board. As of October 6, 2022 Planigrupo LATAM, S.A.B. de C.V. (BMV:PLANI *) board approved the deal. The offer will open from March 14, 2023, and will close on April 13, 2023. Alberto de la Parra of Jones Day México, S.C acted as legal advisor to Grupo México UPAS in this transaction with Alberto de la Parra as lead lawyer.
Grupo México UPAS completed the acquisition of 95.47% stake in Planigrupo LATAM, S.A.B. de C.V. (BMV:PLANI *) from Southern Cross Group and others for MXN 4.5 billion on April 13, 2023.
Planigrupo Latam SAB de CV, formerly Planigrupo Latam SAPI de CV, is a Mexico-based company primarily engaged in the real estate sector. The Company focuses on providing various services related to retail real estate development and management. The Company offers shopping centers design, construction, development and leasing. In addition, it provides property management to third parties. The Company's properties portfolio is located in numerous regions, in the north, central and south part of Mexico. Its tenants range includes Walmart, Movistar, Chilli's, HSBC, Buger King, Famsa and Domino's Pizza, among others. The Company operates through Diseno PG S de RL de C, Alta Direccion PG S de L de CV, Operaciones Planigrupo SA de CV and Planigrupo Real Estate S de RL de CV, among others.
Grupo México UPAS completed the acquisition of 95.47% stake in Planigrupo LATAM, S.A.B. de C.V. (BMV: PLANI *) from Southern Cross Group and others for MXN 4.5 billion.
PLANIGRUPO LATAM, S.A.B. DE C.V. 
