Mexican Bank BBVA Bancomer To Buy Vehicle Fleet Co Facileasing
April 13 2011 - 2:35PM
Dow Jones News
Mexican vehicle fleet leasing firm Facileasing said Wednesday it
is in discussions to sell itself to Mexico's largest bank group,
BBVA Bancomer.
In a statement with the Mexican Stock Exchange, Facileasing said
the deal, signed Tuesday, is subject to various conditions.
Facileasing did not divulge the price of the sale.
Facileasing specializes in managing vehicle fleets for
companies. The firm says it is a market leader in vehicle leasing,
with nearly 20 years experience operating in the Mexican
market.
BBVA Bancomer is Mexico's largest bank and a unit of Spain's
Banco Bilbao Vizcaya Argentaria SA (BBVA, BBVA.MC). BBVA doesn't
currently offer leasing services in Mexico.
Leasing is a relatively small business in Mexico. According to
data from banking regulator CNBV, which only regulates the leasing
activities of four firms, the market reported income of 460 million
pesos ($39 million) and MXN5.41 billion in assets as of
end-2010.
-By Amy Guthrie, Dow Jones Newswires; (5255) 5980-5177;
amy.guthrie@dowjones.com
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