Edificio del Noroeste, SA de CV made an offer to acquire a 26.7% stake in Industrias Bachoco, S.A.B. de C.V. for MXN 13.1 billion on October 6, 2022. The shares will be acquired at MXN 86.66 per share. The offer will start on October 6, 2022 and close by November 4, 2022. George Karafotias of Shearman & Sterling LLP acted as legal advisor to Edificio del Noroeste, SA de CV in the deal.

Edificio del Noroeste, SA de CV completed the acquisition of 14.448322% stake in Industrias Bachoco, S.A.B. de C.V. for MXN 7 billion on November 4, 2022.