Alfa Aims for Sigma IPO

Mexico’s Grupo Alfa is considering an IPO for the Sigma Alimentos unit, it says, in line with what company officials previously indicated was in the company’s plans. The conglomerate does not give any indication of timing, but notes it is working with Citi, Goldman Sachs, Bank of America Merrill Lynch and Banorte-Ixe. In April of 2012, Alfa’s Alpek petrochemicals unit raised almost $800m in what was Mexico’s first IPO in nearly a year. Since then, however, the market has opened up, with seven IPOs so far this year, and two – Fibra Danhos and Hoteles Santa Fe – in the pipeline and scheduled to price next week.