Multivalores rejects purchase offer

Mexican conglomerate Multivalores Grupo Financiero has rejected a share purchase offer made by a group of local investors, the holding said in a statement. A group of investors led by Jaime Ruíz Sacristán and Antonio del Valle Perochena made a purchase offer on August 23 for as much as 100% of Multivalores shares. However, the bid was unsuccessful because neither the amount offered nor the terms and conditions proposed were acceptable to a significant group of stockholders. Multivalores and the investment group had signed a confidentiality agreement on June 24. The agreement was signed to carry out a purchase audit for the local investors to then make a private purchase offer for up to 100% of Multivalores shares.