Chase Manhattan Corp. served as adviser and financing agent for Grupo Synkro SA's acquisition of Kayser Roth Corp., a Greensboro, N.C., hosiery maker.
The transaction, valued at $233 million, is one of the largest Mexican acquisitions of a U.S. corporation, said Chase bankers. The deal is expected to close at yearend.
Chase's mergers and acquisitions group provided financial advice to Grupo Synkro and is fully underwriting the debt portion of the transaction, which amounts to $ 100 million.
Chase plans to syndicate the debt at a later date.
"We provided Grupo Synkro with one-stop shopping," said Gordon Metz, vice president in Chase's mergers and acquisitions group. "They didn't have to go to Wall Street for other advice or financing."
Mr. Metz says Chase is working on six other M&A advisory deals in Mexico.
