Alfa SAB’s Sigma Alimentos food unit offered 675 million euros ($908 million) for Madrid-based sausage maker Campofrio Food Group SA in a bet on European expansion by Mexico’s largest processed-meats producer.
Mexico’s lower house passed a bill to raise taxes, including a new levy on junk food, as President Enrique Pena Nieto tries to shift part of the burden of financing the government from the oil industry to consumers.
Corp. Geo SAB and Urbi Desarrollos Urbanos SAB, the worst performing Mexican homebuilders this year, fell the most on the country’s benchmark index this week amid speculation they will be the worst hit by government housing policy changes.
Desarrolladora Homex SAB and Sare Holding SAB led Mexican homebuilders to their biggest weekly decline since August as analysts cut fourth-quarter earnings estimates on signs that sales slowed late last year.
Cemex SAB Chairman Lorenzo Zambrano will seek to allay investor concern tomorrow that the Mexican cement maker’s ability to repay $17.8 billion in debt has been eroded by a weakening peso and sagging U.S. construction demand.
Desarrolladora Homex SAB shares and bonds plunged to a record after the homebuilder said it will try to raise money by selling assets and issuing debt after cash last year fell by the most in at least a decade.