MEXICO CITY Jan 7 Mexican retailer Grupo
Gigante said on Tuesday it will list shares in
Office Depot de Mexico, the local unit of the U.S. office-supply
chain it purchased last year.
Last June, Grupo Gigante, which also operates restaurants,
paid 8.78 billion pesos ($671.31 million) for the 50 percent
stake of the Mexican unit of the Office Depot chain it did not
That same month, Grupo Gigante shareholders agreed to allow
the company to weigh whether to list up to 35 percent of Office
Depot in a stock offering.
On Tuesday, Grupo Gigante said in a regulatory filing that
it had begun that process in order to pay back the loan used for
the purchase of the Office Depot stake.
The listing would be public in Mexico and private in the
United States and other markets.
Grupo Gigante did not say in the filing how much of Office
Depot it would sell, nor how much it was seeking to raise.
Representatives from the company were not immediately
available for comment.