Pantera launches tender offer for Traxión for up to MXN 7.15B

Grupo Traxión announced on 22 September 2026 the launch of a mandatory tender offer by Pantera Holdings, an entity linked to executive chairman and shareholder Aby Lijtszain Chernizky. The transaction could reach up to MXN 7,148.6 million and seeks to acquire up to 542,382,858 Series A, Class I shares, representing up to 100% of the company's outstanding stock, at a cash price of 13.18 Mexican pesos per share.

The offered price represents an estimated premium of 20.4%, or 2.23 Mexican pesos per share, over Traxión's 60-day volume-weighted average closing price of 10.95 Mexican pesos prior to the announcement of intent on 14 September. The National Banking and Securities Commission (CNBV) authorised the offer on 21 September. The tender will remain open until 20 October, with potential extension, while exchange registration is scheduled for 21 October and settlement for 23 October.

Traxión clarified that the operation does not aim to delist the company from the Mexican Stock Exchange (BMV) or cancel its registration with the National Securities Registry. However, the notice warned that remaining shares could see reduced liquidity. To finance the purchase, Pantera Holdings secured a loan pledged against Traxión shares, with Banco Santander México acting as creditor and Casa de Bolsa Santander serving as broker.

The board of directors of Traxión has until the tenth business day after the launch to publish its opinion on the 13.18 Mexican pesos price and disclose any potential conflicts of interest among its members. Pantera Holdings noted that neither it nor its affiliates obtained an independent fairness opinion on the offer price.