Overview

• Banorte signed a share purchase agreement on September 4 to transfer 100% of Bineo’s shares to Clearscope Holdings, a unit of Klar Holdings, and disclosed the deal to the Mexican stock exchange.
• The transaction includes Bineo’s banking license and excludes Klar’s Mexican sofipo, which is not part of the operation.
• Closing requires authorizations from SHCP and CNBV, an opinion from Banco de México, and clearance from the competition authority Cofece.
• Financial terms were not disclosed, though Banorte’s CEO had previously cited an estimated license value of about 100 million dollars as a reference.
• Bineo, launched in January 2024, posted significant losses and held a minimal loan book, and Banorte had already begun migrating clients as it pivots to integrate digital capabilities within the core bank and other initiatives such as RappiCard.