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December 9, 2015
NEW YORK, December 9, 2015 - Covington advised Grupo P.I. Mabe, the leading producer of hygienic products in Mexico, on its sale to Ontex Group NV, a publicly listed company based in Belgium. The transaction is expected to close in the first quarter of 2016.
The transaction will require regulatory approvals in Mexico, the US and certain other countries, and has a value of approximately US$425 million (MXN 7,200 million), consisting of cash, newly issued Ontex shares, and the assumption of Grupo Mabe’s debt.
The Covington team was led by Rubén Kraiem and Gabriel J. Mesa, and included corporate associates Cecile Zwiebach and Laura Torre. Rob Heller advised on tax, Michael Francese handled employment and benefit matters and Jim O’Connell gave antitrust advice.