IXE Sale Seen Unlikely Below 2x Book

IXE Sale Seen Unlikely Below 2x Book

Mexico M&A

Mexico’s IXE Grupo Financiero is unlikely to sell itself for less than 2x book value, according to a Mexico City based investment banker familiar with IXE’s strategic thinking. “A deal would get done at north of 2x book,” according to the banker. IXE trades around 1.62x book following news of a possible merger with Banorte. A second New York banker away from the deal says a multiple of 2x-3x book would be possible, noting that Banorte itself is trading at above 2x while Itau trades as high as 3x

Already have an account?

Free trial

Take a free two-week trial now for the latest news, data and market analysis.

Free Trial