Regulatory Alerts2018-03-27 | DOF 5517305Added
Official Letter Authorizing the Spin-off of Monex Grupo Financiero, S.A. de C.V.
The Ministry of Finance and Public Credit authorizes the corporate spin-off of Monex Grupo Financiero, S.A. de C.V., involving the transfer of its international business assets to newly created entities and their subsequent merger into MNI Holding, S.A. de C.V. This authorization is conditional upon the timely registration of the merger documents and requires Monex to maintain foreign exchange reporting to the Bank of Mexico and comply with specific credit institution regulations regarding foreign subsidiaries. The entity must also publish the authorization in the Official Journal of the Federation and submit copies of the relevant merger deeds within twenty business days of registration.
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