White & Case LLP represented Consorcio Comex and its shareholders in the US$2.3 billion acquisition of Comex Mexico by PPG Industries, Inc. The deal is the largest M&A transaction this year in Mexico.

The transaction was first announced in June and finalized on November 5, 2014 following regulatory approval from Mexico’s Federal Economic Competition Commission.

"This was a complex transaction that involved various negotiations compounded by a wide variety of contractual, antitrust and financial issues. This high-impact deal is indicative of the kind of deals White & Case is doing across Mexico," said Iker Arriola, partner in White & Case’s Mexico City office.

Founded in 1952 and headquartered in Mexico City, Comex is a leader in paint manufacturing with more than 3,700 retail locations in Mexico and Central America. PPG is a leading coil coating manufacturer based in Pittsburgh, PA.

In addition to Arriola, the team also included Mexico City attorneys Francisco García-Naranjo and José Luis Lavín Santacruz.