MEXICO CITY - Mexico's state-owned Banco Internacional was sold to financial holding company Grupo Privado Mexicano for $47.8 million, government officials said Sunday.

The holding company's bid was led by investors Antonio del Valle, Eduardo Berrondo, Jose Juan Chelala, and Agustin Villareal and beat two other consortiums.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.