Covington Represents Mexican Investment Platform in 150M Softbank Investment

Covington Represents Mexican Investment Platform in $150M SoftBank Investment

June 4, 2021

NEW YORK—Covington advised Grupo Bursátil Mexicano (GBM) in its agreement with the SoftBank Latin America Fund, under which the SoftBank unit will invest up to $150 million into a subsidiary of GBM. The transaction values GBM’s operating holdings at more than $1 billion.

GBM is a Mexican investment platform and brokerage firm. With over a million investment accounts, the company’s mission is to democratize investing in Mexico. The company serves institutions, individuals, and external advisors, holding over MX$800 billion pesos in assets under custody.

The Covington corporate deal team included Sergio Urias, Ingrid Rechtin, Gustavo Akkerman, Mengxi Zhu, Thomas Lopez, and global visiting lawyer Natalia Velasco. Assistance was also provided by Ansgar Simon (tax) and Matt Gehl (capital markets).