Mexico's Sare Plans Asset Divestment

Mexico's Sare Plans Asset Divestment

Mexico M&A

Mexican homebuilder Sare plans a MXN1.6bn ($115.9m) sale of non-core assets over the coming two years in a bid to pay off debt and finance ongoing projects. Sare shareholders approved a plan that entails selling MXN800m ($58m) in undeveloped lands and unfinished residential projects in 2012, as well as an additional MXN800m in assets the following year, a Sare investor relations officer tells LatinFinance. “We are selling assets that won’t affect our growth going forward,” the official says. Sar

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