MEXICO CITY Feb 21 Mexican retailer Grupo
Gigante said on Thursday it has offered 8.78
billion pesos ($687.34 million) to buy the 50 percent stake in
the Mexican unit of U.S. office-supply store chain Office Depot
Inc that it does not already own.
Grupo Gigante, which also operates supermarkets and
restaurants, said its offer will expire soon, without going into
further detail in a statement filed with Mexico's stock
The company said earlier this week it has been considering
options related to its 50 percent stake in Office Depot's
local unit, which it has held since 2008.
Last month, Gigante said it entered a joint venture with
U.S. pet product supplier Petco Animal Supplies to open at least
50 stores in Mexico and other Latin American countries over