Grupo Mexico SAB wins Asarco for nearly $2.5 billion
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Businesses
Posted November 14th, 2009 at 11:07 pm
A federal judge has issued a ruling supporting a nearly $2.5 billion bid by Grupo Mexico (GMEXICOB.MX)
Grupo Mexico SAB won the right to regain control of its bankrupt U.S. copper miner when a judge in Texas approved its plan to reorganize Asarco LLC and rejected a competing offer from Sterlite Industries (India) Ltd..
U.S. District Judge Andrew Hanen in Brownsville, Texas ruled that Grupo Mexico’s proposal to pay about $2.5 billion to Asarco’s creditors “is both feasible and confirmab...
