Keeping IMSA In The Family

The Canales Clariond family hs increased its shareholding in Grupo IMSA – Mexico’s largest steelmaker – by buying up the 43% equity stake held by other family members, the Clariond Reyes Retana family. The deal, worth just over $1 billion, leaves the Canales Clariond with an 86% share of IMSA. The Canales family bought the shares via its Tarida company. The two families have jointly controlled IMSA since it was founded 70 years ago. The acquisition should put an end to rumors that a share of IMSA was to be sold to foreign buyers. IMSA has operations in Mexico, Central America and the United States.