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Provider: Reuters Investment Profile
Provider: Wright Reports
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Grupo Gigante SAB de CV to sell shares in Office Depot Mexico-Reuters

Monday, 6 Jan 2014 07:00pm EST 

Grupo Gigante SAB de CV:The company said it will list shares in Office Depot de Mexico, the local unit of the U.S. office-supply chain it purchased in 2013-Reuters.In June 2013 Grupo Gigante 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 already own.Grupo Gigante shareholders agreed to allow the company to weigh whether to list up to 35 percent of Office Depot in a stock offering.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.The company did not say in the filing how much of Office Depot it would sell, nor how much it was seeking to raise. 

Company Quote

31 Mar 2015