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Grupo México acquires real estate company, Planigrupo

April 2023

Client(s) Grupo México, S.A.B. de C.V.

Jones Day advised Grupo Inmobiliario UPAS, S.A. de C.V., a subsidiary of México Proyectos y Desarrollos, S.A. de C.V., (sub-holding) and Grupo México, S.A.B. de C.V.'s Infrastructure Division ("Grupo México") (holding) in the due-diligence, negotiation, and formalization of an agreement with certain Southern Cross Group's subsidiaries (controlling shareholders of Planigrupo LATAM, S.A.B. de C.V. ("Planigrupo")) and the Bross family, for the acquisition of their respective stake in Planigrupo, for which Grupo México launched, and Jones Day also assisted and advised on a mandatory public tender offer for up to 100% of the shares representing Planigrupo's capital stock, resulting in the acquisition by Grupo México of 95.47% of Planigrupo's outstanding capital stock for a total amount of 4.49 billion pesos (approximately US$245 million).

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