Cases & Deals

Banorte acquires Mexican pension fund stake

Client(s) Banco Mercantil del Norte SA (Banorte)

Jones Day advised Banco Mercantil del Norte SA (Banorte) in its $1.2 billion acquisition of 50% of the capital stock of Afore XXI from Prudential Financial Inc. The transaction is part of a series of additional transactions that resulted in the merger of Banorte Generali, S.A. de C.V. Afore, into Afore XXI, creating one of the largest pension fund managers in México.