January 10, 2013 / 10:25 PM / 5 years ago

Tycoon Slim's retail arm plans new listing, share sale abroad

MEXICO CITY, Jan 10 (Reuters) - Grupo Sanborns, the retail arm of tycoon Carlos Slim’s conglomerate Grupo Carso , said on Thursday it plans to relist on the Mexican stock exchange and offer its shares to institutional buyers abroad.

Grupo Sanborns, which operates coffee shops and its name-sake restaurant and retail chain which offers clients anything from flashy ties to ornaments and flatscreen TVs, delisted from the Mexican stock exchange some years ago.

In 2010, the retailer flirted with the idea of opening a branch in Manhattan but the plan never panned out.

Sanborns did not detail in a release to the Mexican stock exchange the amount of the expected share offerings, which are still subject to approval by shareholders in an upcoming meeting.

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