Grupo Mexicano de Desarrollo SA (BMV:GMD *) signed an agreement to acquire 57.74% stake in Gmd Resorts SAB (BMV:GMDR *) for approximately MXN 270 million recently. Grupo Mexicano de Desarrollo SA will acquire 80.8 million shares of Gmd Resorts. The consideration to be paid is 1 GMD share for 2.09 Gmd Resorts SAB's shares.

Galicia Abogados and Baker & Mckenzie Abogados, S.C. acted as legal advisors for Grupo Mexicano de Desarrollo SA.