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Prudential To Acquire Mexican Fund Company

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NU Online News Service, July 8, 2:11 p.m. – Prudential Financial Inc., Newark, N.J., says a unit in Mexico has agreed to acquire 100% of Operadora Finamex S.A. de C.V., Mexico City, a mutual fund management company.

Finamex, a subsidiary of Grupo Financiero Finamex S.A. de C.V., is the 19th largest fund company in Mexico, with 5,000 customers and the equivalent of about $269 million in assets under management, according to Prudential.

The Prudential unit making the deal is Prudential Apolo Operadora de Sociedades de Inversion S.A. de C.V., Mexico City, which has 32,000 customers, 10 mutual funds, and about $731 million in assets.

The price of the deal and other terms were not immediately available, but Prudential says it hopes to complete the deal by Sept. 30.