Global law firm White & Case LLP has advised BlackRock, Inc., the world's largest asset manager, on its acquisition of the asset management business of Citibanamex, a Mexican subsidiary of Citigroup.
As part of the acquisition, Citibanamex has sold BlackRock its asset management business, which includes local fixed income and equity assets and multi-asset products. Additionally, BlackRock will now offer asset management products to Citibanamex clients in Mexico under a new agreement.
The White & Case team in Mexico that advised on the transaction was led by partners Vicente Corta Fernández, Francisco García-Naranjo and local partner Henri Capin-Gally.
White & Case recently advised on two other major M&A deals involving Mexican financial institutions: advising Grupo Financiero Banorte on its acquisition of Grupo Financiero Interacciones and Principal on its acquisition of MetLife Afore.
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