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Article Excerpt
MEXICO CITY and MONTERREY, Mexico, Oct. 26 /PRNewswire/ -- Southern Cross Group, Evercore Mexico Capital Partners (jointly the "Funds") and Servicios Corporativos Javer, S.A.P.I de C.V. ("Javer" or the "Company") announced today that they have signed an agreement by means of which the Funds acquire a controlling interest in the Company.
This transaction allows Javer, leader in the Mexican homebuilding sector, to incorporate strategic partners with proven financial and operating experience throughout the region. Javer, which plans to build more than 17,500 homes in 2009 and has land reserves in excess of 100,000 units, is one of the fastest growing developers of homes in the low, middle and residential segments in Mexico.
"The operating experience, strategic thinking and regional view of our new shareholders will contribute towards further consolidating Javer's growth as we work towards becoming one of the country's leading homebuilders and consider accessing the public equity markets," stated Salomon Marcuschamer, founder of Javer.
This transaction does not involve any changes in the Company's management, operating team or strategy. Roberto Russildi and Eugenio Garza, CEO and CFO respectively, will continue heading the Company's operations as they, and...
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