Breaking News


Mexico Stocks: Genomma Lab, Modelo, OHL Mexico, Sare Are Active

The following companies are having unusual price changes in Mexico City trading. Stock symbols are in parentheses, and prices are as of 10:04 a.m. local time.

The IPC index rose 1.2 percent to 40,116.34.

Genomma Lab Internacional SAB (LABB) rose 2.7 percent to 26.31 pesos. The Mexican producer of over-the-counter drugs acquired 20 brands of consumer goods, according to a filing issued yesterday to the Mexican stock exchange. Brands acquired include Fermodyl haircare products sold in Mexico and the U.S. and Bioskin skincare products, the company said. It didn’t disclose financial terms.

Grupo Modelo SAB (GMODELOC) rose 0.9 percent to 118.85 pesos. Anheuser-Busch InBev NV (ABI), the world’s biggest brewer, agreed to buy the remainder of Mexico’s Grupo Modelo SAB for $20.1 billion in cash. AB InBev said today it will pay $9.15 a share, about 30 percent more than the price of Modelo shares before talks were first disclosed on June 25.

OHL Mexico SAB (OHLMEX*) , the Mexican unit of Spanish construction company Obrascon Huarte Lain SA (OHL), rose 4.8 percent to 16.08 pesos. OHL said in an e-mailed statement that its legal injunction was accepted by a court in the state of Puebla, which agreed to rule on the legality of a move by the state to withdraw a concession previously granted to the company.

Sare Holding SAB (SAREB) , Mexico’s cheapest homebuilder based on book value, climbed 3.7 percent to 1.42 pesos, extending its three-day gain to 24 percent. On June 27, Beamonte Investments Inc.’s managing director Luis Trevino said by phone from Boston that his private equity firm is considering taking a stake in Sare.

To contact the reporter on this story: Patricia Laya in New York at

To contact the editor responsible for this story: David Papadopoulos at

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.