Francisco Garcia-Naranjo González

Partner, Mexico City

Biography

Overview

Francisco advises on corporate law, mergers and acquisitions, joint ventures and banking. Clients also seek his knowledge and experience in regulatory matters and financial and foreign investment transactions.

Undaunted by scale or complexity, he has worked on a number of landmark and high profile deals, including the sale of Comex Mexico to PPG Industries, which was one of the largest M&A transactions in Mexico in 2014. Other major clients to have benefited from his representation in this area include ICBC, Shinhan Bank, Comex, Principal Financial Group, and Kansas City Southern.

Francisco is an undisputed market leader in obtaining regulatory authorizations for the establishment, operation and mergers and acquisitions of financial institutions in Mexico.

As both bank financing and bank regulatory counsel, Francisco has advised on precedent-setting mandates for the financial services sector in Mexico.

Francisco's track record and reputation have also led to his appointment as an independent director within several Mexican financial institutions, which have also called upon him to chair various committees. Over the years, Francisco has acquired a reputation for being a well-rounded, transaction-oriented lawyer with unparalleled technical skills. Clients and peers regularly request Francisco's counsel in legal and business matters. Financial regulators often ask for Francisco's comments and views to drafts of new laws and regulations. Legal 500 recognizes Francisco's skills stating that he is noted for his "excellent relations with the relevant authorities". In addition, the magazine Law360 recently named Francisco among its list of "Rising Stars 360", which includes only 179 lawyers under 40 years worldwide, which were selected based on the achievements accomplished in their respective areas of practice.

Bars and Courts
Authorized to practice law in Mexico
Education
Attorney at Law (Abogado)
Universidad Nacional Autónoma de México
Languages
English
Spanish

Experience

Newmont Mining US$10 Billion Acquisition of Goldcorp, 2019
Francisco represented Newmont Mining Corp., a gold and copper producer based in the United States with operations worldwide, on its US$10 billion acquisition of Goldcorp Inc., a Canadian senior gold producer.

Investindustrial VI Acquisition of Jupiter Holding I, 2019
Francisco represented Investindustrial VI a leading European private equity firm, in the acquisition of Jupiter Holding I Corp., a global manufacturer of premium spas, swim spas, whirlpool, soaker and walk-in bathtubs and related products.

Principal Afore Acquisition of MetLife Afore, 2018
Francisco represented Principal Afore, a pension fund manager and subsidiary of Principal Financial Group Inc. (PFG), in its full ownership acquisition of MetLife Afore. MetLife, Inc.'s pension fund management business in Mexico.

BlackRock Acquisition of Citibanamex Asset Management Business, 2018
Francisco represented BlackRock Inc. in its acquisition of the asset management business of Citibanamex, a subsidiary of Citigroup Inc. and the execution of a distribution agreement under which Citibanamex will distribute certain investment products offered by BlackRock. The transaction involves approximately US$31 billion in assets under management.

Authorization to Incorporate a Multiple Banking Institution in Mexico, 2017
Francisco advised KEB Hana Bank, the largest banking institution in South Korea, in the process of obtaining a license to incorporate a subsidiary multiple banking institution in Mexico. The authorization was granted by the Board of Governors of the Mexican National Banking and Securities Commission with the favorable opinion of the Central Bank. This is the second license granted to a Korean bank to establish a banking subsidiary in Mexico.

PPG Industries, Inc. Acquisition of Comex Central America, 2015
Francisco represented Consorcio Latinoamericano, and its shareholders in the acquisition of Comex Central America by PPG Industries, Inc. Consorcio Latinoamericano, operates a network of 57 paint stores across Central and South America.

Consorcio Comex's sale of Comex Mexico to PPG Industries, 2014
Francisco represented Consorcio Comex and its shareholders in the US$2.3 billion acquisition of Comex Mexico by PPG Industries, Inc. The deal was one of the largest M&A transactions of the year in Mexico.

Obtaining a license for Industrial and Commercial Bank of China Ltd. (ICBC) to incorporate and operate a banking institution in Mexico, 2014
Francisco was part of the international White & Case team which represented ICBC, the world's largest bank by total assets, in obtaining a license to incorporate and operate a banking institution in Mexico. The authorization granted by the Board of Governors of the National Banking and Securities Commission of Mexico is the first-ever license granted by the Mexican Government to a Chinese bank. It is also the first-ever license granted in Mexico to a foreign government (the government of the People's Republic of China), to own a controlling indirect participation in a Mexican banking institution.

Coca Cola Femsa's merger with Grupo Fomento Queretano, 2013
Francisco was part of the White & Case team which advised Grupo Fomento Queretano on its merger with Coca Cola Femsa. This strategic transaction, with a value of MXP 6,600 million, represented a significant expansion of Coca Cola Femsa's Mexican operations, allowing it to increase its participation in one of the leading sugar producers in the country.

Acquisition of the Royal Bank of Scotland Mexico, 2013
Francisco was part of the White & Case team which advised a group of former top-tier officers of The Royal Bank of Scotland (RBS) on the acquisition of RBS' Mexican banking and broker-dealer subsidiaries. This transaction, worth MXN$650 million (roughly US$50 million), involved the purchase of all the shares representing the capital stock of these Mexican entities, through a special-purpose entity incorporated by the former officers and a larger group of investors. White & Case not only represented the former officers in the US law-governed Stock Purchase Agreement, but in the drafting and negotiation of various ancillary agreements and corporate documents required to complete the transaction. We also helped our clients to obtain the necessary clearance from the Mexican antitrust authority.

Principal Financial Group's purchase of HSBC Afore, 2012
Francisco advised on the purchase of HSBC Afore by Principal Financial Group.

Publications

Author "Corporate Governance and Directors' Duties in Mexico: Overview" Practical Law (Dec 2017)

Awards and Recognition

Rising Star, Law 360, 2016
Banking