Cleary assists in Grupo Traxión’s follow-on offering
Cleary Gottlieb has assisted the initial purchasers J.P. Morgan, Bank of America and BTG Pactual in the P4.9 billion follow-on offering for Grupo Traxion.
The transaction consisted of an international offering of common stock represented by common stock certificates (CPOs) in the United States pursuant to Rule 144A and in countries outside the United States and Mexico pursuant to Regulation S, and a concurrent public offering of common stock in Mexico conducted through the Mexican Stock Exchange.
The offering included a primary offering by Grupo Traxión and a secondary offering by certain existing shareholders. The transaction was priced at Ps.30 per share on 10 August and closed on 15 August 2023.
Ritch Mueller represented BofA Securities, as Mexican placement agent.
Grupo Traxión is a mobility and logistics company in Mexico and Latin America, offering a broad portfolio of industry-integrated products with a focus on tailored, technologically innovative, one-stop-shop solutions throughout the supply chain. Grupo Traxion offers services covering the entire supply chain, from 3PL and 4PL logistics services, domestic and international ground transportation (including specialised and refrigerated cargo) to last mile logistics and personnel transport, as well as school and tourist transportation services.
Ritch Mueller’s team consisted of partners Gabriel Robles Beistegui and Jean Paul Farah Chajín, associates Juan Carlos Rodríguez Hernández and Luis Miguel Posadas Yáñez and intern Manola Giral Serra.
Cleary’s team included partners Manuel Silva (pictured right) and Jorge Juantorena (pictured left) and law clerk Jose Juan Vazquez. Counsel Matthew Brigham and associates Daniel Solecki and Jeesun (Jesse) Hong provided tax advice. All lawyers are based in New York.
