3. Could you give us some examples of the value of companies at the beginning of the 80s?
At the beginning of the 80s the extremely severe crisis faced by the country caused major distrust in Mexico’s economy and a massive flight of capitals; the value of many companies was extremely low. For example, Cemex was worth 26 million U.S.Dollars and today it is worth close to 28 billion U.S. Dollars; Teléfonos de México was worth 172, it was one of the most expensive ones; Grupo Condumex was worth eight and a half million; La Moderna 4.8 or 5 millions (this company had 75% the cigarette market; it was British American Tobacco of which we owned 40%, and since we controlled the other company, Cigatam, we sold it for approximately somewhere around 80 or 90 million U.S. Dollars; the purchaser sold his share for 1.7 billion U.S. Dollars to British American Tobacco). These are appraisals of 100% of the companies, , Alfa was worth 5,700,000 dollars (today it is worth more than 4 billion dollars), Bimbo 12 million (today it is worth 7 billion dollars), Apasco 15, Sanborns 23, it was one of the expensive companies, Kimberly 27 (and today it is worth almost 5 billion dollars).
| <<back | next>> |