Regulatory Alerts2020-12-01 | DOF 5606326Added · Updated
Authorization of the merger of Banco Mercantil del Norte, S.A., Multiple Banking Institution, Banorte Financial Group, as the surviving merging entity, with Inmobiliaria Interdiseño, S.A. de C.V., Inmobiliaria Mobinter, S.A. de C.V., Inmobiliaria Interorbe, S.A. de C.V., and Inmobiliaria Interin, S.A. de C.V., as the extinguished merged entities
The Ministry of Finance and Public Credit authorizes the merger of Banco Mercantil del Norte, S.A., as the surviving entity, with four real estate subsidiaries of Grupo Financiero Banorte, which will be extinguished. The authorization is subject to conditions requiring shareholder approval by the last business day of 2020 and the registration of public deeds within specified timeframes, including adjustments for the SARS Co-V health contingency. Banco Mercantil del Norte is obligated to submit certified copies of the relevant public instruments within ninety business days and to publish the authorization and agreements in the Official Journal of the Federation.
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