Press Release
November 24, 2014

Holland & Knight Represents Fibra Inn on First-Ever Rights Offering by a Mexican REIT

MEXICO CITY (November 24, 2014) – A team of attorneys from Holland & Knight’s Mexico City and New York offices represented Fibra Inn on the first rights offering ever made by a fibra (Mexican real estate investment trust). Investors purchased approximately 179 million shares (CBFIs) at $15.85 pesos per share, enabling Fibra Inn to make a private placement of $2.8 billion pesos (approx. US$210 million).

The transaction was structured considering the current market conditions in an effort to avoid any follow-on failure and to give confidence to Fibra Inn investors on the stock’s future performance. The rights offering included two subscription rounds and required the creation of entirely new procedures for Mexican market participants, the Mexican Securities Authority and the Mexican Stock Exchange.

Fibra Inn is a Mexican trust formed primarily to acquire, develop, operate and rent a broad range of hotel properties in Mexico. Headquartered in Monterrey, Fibra Inn has a portfolio of high-quality real estate properties throughout Mexico for business travelers.

Holland & Knight partners Guillermo Uribe and Stephen Double led the team’s representation of Fibra Inn with the assistance of associates Adrian Gay, Jorge González, Tyler Hudson, Carlos Meza and Mirna Ordaz.

Related News and Headlines