Recent developments

The National Foreign Investment Commission ("CNIE" for its Spanish initials) published on the Federal Official Gazette of July 10, 2012, the General Resolution Number 13 ("Resolution 13), which determines the updated amount of the total value of the assets that are referred to in article 9 of the Foreign Investment Law ("LIE" for its Spanish initials) and repeals the General Resolution Number 12 published in the Federal Official Gazette of July 6, 2011.

What the law says

Pursuant to article 9 of the Foreign Investment Law, a favorable resolution issued by the CNIE is required for the foreign investment to have participation, either directly or indirectly, in a proportion higher than forty nine (49) per cent in the capital stock of Mexican companies, which total value of assets exceeds, upon submitting the acquisition application, the amount that is annually determined by the CNIE in the economic and social activities that are referred to in article 8 of the LIE.

Conclusion 

The CNIE determined that the new amount of the total value of assets of Mexican companies where the foreign investment may have participation, either directly or indirectly, in a proportion higher than the forty nine (49) per cent in the capital stock, without requiring the CNIE's authorization, is $3,244,014,508.30 (three thousand two hundred forty four million fourteen thousand five hundred eight pesos and thirty cents), rendering therefore invalid the previous amount, which was $2,958,418,853.40 (two thousand nine hundred fifty eight million four hundred eighteen thousand eight hundred fifty three pesos and forty cents).