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Mexico's Billionaire Coppel Family Plans $2 Billion IPO

  • Morgan Stanley and BofA said picked as global coordinators
  • Offering would be largest since 2012 IPO of Santander Mexico

Mexico’s billionaire Coppel family hired Morgan Stanley and Bank of America to lead an initial public offering of its conglomerate Grupo Coppel, according to people with knowledge of the matter.

Coppel, which operates department stores, banks and a pension fund in Mexico, is seeking to raise as much as $2 billion, said the people, who asked not to be identified because the plans aren’t public. That would make it the largest Mexican IPO since the local unit of Banco Santander offered shares in 2012.