Billionaire Slim Looks to Mexican Prisons for Ideal’s Growth
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Billionaire Carlos Slim is entering the business of managing Mexican prisons to expand the investments of his construction-financing company.
Along with Slim’s bank Grupo Financiero Inbursa SAB, the builder, known as Ideal, is acquiring stakes in two federal prisons from Desarrolladora Homex SAB. The homebuilder said it would receive about 4 billion pesos ($326 million) from Slim’s companies under the agreement.