Citigroup acquires Mexico's Banacci

Article Abstract:

Citigroup became Mexico's largest bank after it acquired Grupo Financiero Banamex-Accival (Banacci) for $12.5 billion. Banacci has significant holdings in Mexico's banking, insurance and securities industries, and is also a major shareholder in Avantel, the country's second-largest long- distance telephone company. Citigroup will conduct business in Mexico under the Banamex name, and has applied for listing on the Mexican Stock Exchange.

Acquisitions & mergers, Foreign operations, Offices of Bank Holding Companies, Bank Holding Companies, Citigroup Inc., Grupo Financiero Banamex-Accival

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Net spinoff puts parent on a seesaw

Article Abstract:

On-line casual apparel retailer and teen-age chat host ITurf has raised the price of its initial public offering from $10 a share to $16-$18 a share. The company has also increased the number of shares it plans to offer by 500,000 to 4.2 million. The company will raise $71.4 million from the planned IPO. ITurf is being spun off by its parent Delia's, a New York clothing retailer and catalog marketer.

Organizational history, Video Retailing Service, All Other Information Services, Home shopping, ITurf

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Early PT Cruiser took a brusin'

Article Abstract:

DaimlerChrysler came close to not building the PT Cruiser, its runaway hit and the 2001 North American Car of the Year, because of a last-minute manufacturing glitch. Had the car not been built it would have very negatively affected the company's bottom line and the economy of Mexico where the car is assembled.

Motor vehicles and car bodies, Product development, Company Planning/Goals, Automobiles, Automobile Manufacturing, DCX, Daimler AG, Chrysler PT Cruiser (Automobile)

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