Mexican Investors Buy into Spain’s Popular

A group of Mexican investors has purchased 3.5% of Spain’s Banco Popular for $925m according to a filing with the Spanish regulator. The Mexican group has used a UK based vehicle called Blueprime to make the purchase, Fabian Picardo, a lawyer representing the entity, tells LatinFinance. Blueprime purchased 42m shares from Madrid based Grupo Hispania for EUR14.20 per share, according to Hispania. Blueprime aims to acquire 20% of the bank and is in talks with several shareholders for further share purchases, the company says.