MICROCAPITAL BRIEF: Mexican Microfinance Institution (MFI) Financiera Independencia Closes $41m Acquisition of Financiera Finsol

Financiera Independencia, a Mexican microfinance institution (MFI) that focuses on urban lending to individuals, has closed an MXP 530 million (USD 41 million) deal to acquire Financiera Finsol, a Mexican MFI that focuses on group lending in rural areas, and three related entities: Finsol Vida, an insurance broker; Finsol, a service company; and Instituto Finsol Brazil, an MFI in Brazil. The acquisition of Financiera Popular Finsol, a savings and loan entity, is still under review by the Mexican Comisión Nacional Bancaria y de Valores.

“Through this acquisition, Independencia increased its loan portfolio by MXP 794.6 million [USD 62.3 million] and added 173,179 new clients,” according to an article in PRNewswire.

By: Stefanie Rubin, Research Associate

About Financiera Independencia:

Founded in 1993, Financiera Independencia is a Mexican microfinance institution traded on the Mexican Stock Exchange (BMV: FINDEP). As of September 2009, Financiera Independencia had a total outstanding loan balance of USD 371.2 million (MXP 4,793.1 million) and operated in 198 offices in 143 cities in 31 of Mexico’s 32 federal entities.

About Financiera Finsol:

Founded in 2003, Financiera Finsol operates 158 branches in 29 of 32 federal entities in Mexico. It has a total outstanding loan balance of USD 49 million (MXP 632.3 million) and 143,045 clients. Among its products are individual microcredit, group microcredit and life microinsurance (LMI).

About Instituto Finsol Brazil:

Founded in 2006, Instituto Finsol Brazil is a Brazilian microfinance institution (MFI) with an outstanding loan portfolio of USD 16.4 million (R 28.7 million). It operates 16 branches in five Brazilian states and has a total of 30,134 clients.

Additional Resources:

Source Article: PRNewswire: “Financiera Independencia Closes Acquisition of Financiera Finsol,” http://www.prnewswire.com/news-releases/financiera-independencia-closes-acquisition-of-financiera-finsol-84803042.html

MicroCapital Universe: Financiera Independencia: https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Financiera+Independencia

MicroCapital Universe: Finsol: https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Finsol

MicroCapital Universe: Instituto Finsol Brazil: https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Instituto+Finsol+Brazil

MICROCAPITAL BRIEF: Financiera Independencia, a Mexican Microfinance Institution, Completes $65m Offering to Fund Acquisitions of Financiera Finsol and Finsol Brazil: https://www.microcapital.org/microcapital-brief-financiera-independencia-a-mexican-microfinance-institution-completes-65m-offering-to-fund-acquisitions-of-financiera-finsol-and-finsol-brazil/

MICROCAPITAL BRIEF: Financiera Independencia of Mexico Unveils Plans to Acquire Financiera Finsol and Expand Microfinance Operations to Brazil: https://www.microcapital.org/microcapitalorg-brief-financiera-independencia-of-mexico-unveils-plans-to-acquire-financiera-finsol-and-expand-microfinance-operations-to-brazil/

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