Mexarrend (formerly Docuformas) Concludes Merger with Subsidiaries

USA - English

• Latin America - español

MEXICO CITY, Nov. 1, 2019 /PRNewswire/ -- DOCUFORMAS, S.A.P.I. de C.V. (now Mexarrend, S.A.P.I. de C.V.) (BMV: DOCUFOR) ("Docuformas") announces the conclusion of the merger (the "Merger") of Docuformas with its subsidiaries Analistas de Recursos Globales, S.A.P.I. de C.V., ARG Fleet Management, S.A.P.I. de C.V., Rentas y Remolques de México, S.A. de C.V., Mexarrend, S.A. de C.V., y Compañía Mexicana de Arrendamientos, S.A. de C.V. (jointly, the "Subsidiaries"), as reported on October 16th.  As set out in the corresponding Merger agreement, the Merger shall take effect on the registration date of said agreements in its Public Registry of Commerce (Registro Público de Comercio).

Following the Merger, Docuformas will assume all of its Subsidiaries' assets, its corresponding rights, and all existing obligations of the the Subsidiaries prior to the Merger.

Finally, as part of the Merger agreements agreed by Docuformas' shareholders, the Company's corporate name has been changed henceforth to "Mexarrend, S.A.P.I. de C.V.", consequently modifying Article 1 of its corporate bylaws.

About Mexarrend

Mexarrend S.A.P.I. de C.V. has grown to be the second largest independent leasing company in Mexico in the last 21 years. The company specializes in offering financing solutions to rapidly-growing and underserved small and medium-sized enterprises (SMEs) for the acquisition of productive assets and equipment to support growth. Mexarrend provides reliable and competitive funding sources through its six main business lines: capital leasing, operating leases, transportation services, factoring, cash financing and equipment financing.

DISCLAIMER

This document may contain certain forward-looking statements. These statements are non-historical facts, and they are based on the current vision of the Management of Mexarrend S.A.P.I. De C.V. for future economic circumstances, the conditions of the industry, the performance of the Company and its financial results. The terms "anticipated", "believe", "estimate", "expect", "plan" and other similar terms related to the Company, are solely intended to identify estimates or predictions. The statements relating to the implementation of the main operational and financial strategies and plans of investment of equity, the direction of future operations and the factors or trends that affect the financial condition, the liquidity or the operating results of the Company are examples of such statements. Such statements reflect the current expectations of the management and are subject to various risks and uncertainties. There is no guarantee that the expected events, trends or results will occur. The statements are based on several suppositions and factors, including economic general conditions and market conditions, industry conditions and various factors of operation. Any change in such suppositions or factors may cause the actual results to differ from expectations.

Contact:
Mariana Mangas Orozco 
[email protected] 
+52 (55) 46187534

SOURCE Mexarrend (formerly Docuformas)