MEXICO CITY--(BUSINESS WIRE)--GENTERA, S.A.B. de C.V., (“GENTERA” or “the Company”; BMV: GENTERA*) informs that yesterday it signed a purchase agreement to acquire 100% of the shares of PAGOS INTERMEX, S.A. DE C.V. ("INTERMEX"), a Mexican company with more than 10 years of experience in remittance payments.
In 2013, 4.2 million remittances were paid through INTERMEX. That figure represented 5.7% of the remittances sent from the United States to Mexico.
“In Gentera, we consider our clients in all of the actions we undertake; with this operation we seek to expand the range of financial products and services that we currently offer. We believe that the sum of the strengths of both companies will contribute to a stronger market position for the Company and will bring us closer to our purpose of eradicating financial exclusion,”.
This acquisition is subject to the fulfillment of various conditions that are common to this type of operations.
Company Description
GENTERA, S.A.B. de C.V. (formerly Compartamos, S.A.B. de C.V.) is a holding company whose primary objective is to promote, organize and manage companies, domestic and international, that are subject to its investment policies. GENTERA was established in 2010 and is headquartered in Mexico. Its shares began trading on the Mexican Stock Exchange on December 24, 2010 under the ticker symbol COMPARC*. On January 2, 2014, the ticker symbol was changed to GENTERA*.
Note on Forward-Looking Statements
This press release may contain forward-looking statements. These statements are statements that are not historical facts, and are based on management’s current view and estimates of future economic circumstances, industry conditions, Company performance and financial results. The words “anticipates”, “believes”, “estimates”, “expects”, “plans” and similar expressions, as they relate to the Company, are intended to identify forward-looking statements. Statements regarding the declaration or payment of dividends, the implementation of principal operating and financing strategies and capital expenditure plans, the direction of future operations and the factors or trends affecting financial condition, liquidity or results of operations are examples of forward-looking statements. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. There is no guarantee that the expected events, trends or results will actually occur. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations.
