Divestiture • Financial Services

Principal Financial Group S.A. de C.V. Grupo Financiero Acquires HSBC Afore S.A. de C.V.

On April 11, 2011, Principal Financial Group S.A. de C.V. Grupo Financiero acquired financial services company HSBC Afore S.A. de C.V. from Grupo Financiero HSBC S.A. de C.V. for 198M USD

Acquisition Context
  • This is Principal Financial Group S.A. de C.V. Grupo Financiero’s 1st transaction in the Financial Services sector.
  • This is Principal Financial Group S.A. de C.V. Grupo Financiero’s largest (disclosed) transaction.
  • This is Principal Financial Group S.A. de C.V. Grupo Financiero’s 1st transaction in Mexico.

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M&A Deal Summary

Date April 11, 2011
Target HSBC Afore S.A. de C.V.
Sector Financial Services
Buyer(s) Principal Financial Group S.A. de C.V. Grupo Financiero
Sellers(s) Grupo Financiero HSBC S.A. de C.V.
Deal Type Divestiture
Deal Value 198M USD

Target Company

HSBC Afore S.A. de C.V.

Ciudad De Mexico,, Mexico
HSBC Afore, S.A. de C.V. operates as a pension fund manager in Mexico.
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Buyer Overview 1

DESCRIPTION

Principal Financial Group, S.A. de C.V., Grupo Financiero is based in Mexico City engages in the financial services.


Deal Context for Buyer #
Overall 1 of 1
Sector: Financial Services 1 of 1
Type: Divestiture 1 of 1
Country: Mexico 1 of 1
Year: 2011 1 of 1
Size (of disclosed) 1 of 1

Seller Profile 1

SELLER

Grupo Financiero HSBC S.A. de C.V.

Mexico,, Mexico

Category Company
Sector Financial Services
DESCRIPTION

Grupo Financiero HSBC, S.A. de C.V. provides banking and financial services in Mexico.


Deal Context for Seller #
Overall 1 of 1
Sector: Financial Services 1 of 1
Type: Divestiture 1 of 1
Country: Mexico 1 of 1
Year: 2011 1 of 1
Size (of disclosed) 1 of 1