One man is the richest in Mexico. His partner, another billionaire, delivered the country’s best stock returns during his nine years as chairman of a chemical company. Together, they make even a cement company seem glamorous.
Elementia SAB, jointly owned by Carlos Slim and Antonio del Valle Ruiz, plans to raise about 4.5 billion pesos ($290 million) in an initial public offering on July 9. The two men aim to use the proceeds from the share sale to acquire smaller rivals and build up a competitor to Cemex SAB, the biggest cement maker in the Western Hemisphere.