Alfa’s proposed Axtel spin-off cleared by shareholders

Alfa’s proposed Axtel spin-off cleared by shareholders

At a meeting held on 12th July, shareholders in Mexican conglomerate Alfa approved the group’s proposal to spin-off its stake in operator Axtel.

Alfa stated that it will transfer ownership of its entire holding in Axtel – along with additional assets and capital - to the newly created company, which will be named Controladora Axtel and listed on the Mexican Stock Exchange (Bolsa Mexicana de Valores).

Controladora Axtel will be created as a ‘splitting entity’, with Alfa shareholders receiving shares in the new unit on a 1:1 exchange for their Alfa shares. Stakeholders will be able to continue owning shares in Alfa’s equity. Alfa is targeting end-2022 to complete the spin-off, listing and share distribution.

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