Early September always sees business draw a deep breath over the week to US Labor Day, and activity slows as the holiday months end. This week followed the pattern. The corporate transaction of the week saw Dutch Heineken sell its Mexican packaging operations to Crown of the US. Otherwise, the market was marked by lower-key announcements, including French Ingenico’s sale of electronics payments systems to Banco del Bajío and Novo Nordisk’s marketing of its new diabetes treatment in Mexico. Oil service concern Grupo Diavaz discussed raising new equity capital to meet opportunities arising from energy market reforms, while Grupo Bimbo said it, too, would raise new equity to pay down debt.
Our colleagues at Delta Economics see Mexican trade with its NAFTA partners continuing to thrive, with the US buying more than three-quarters of all outbound goods as growth there incentivises more Mexican activity.
After Hours took a look at Mexican professional wrestling, in particular bawdy, scandalous star Cassandro. Hot Tamales meditated on the place of Mexican Agua Fresca in faraway Yorkshire.
Hasta la próxima!