Grupo Sanborns Shares Are Traded on the Stock Exchange

The operation details were outlined in a notice published in the stock market, specifying that the offer is for 297 million shares, requiring a total amount of 7.724 billion pesos to complete the acquisition.

According to the document, the purchase period will remain open until December 22nd, with the option to extend if necessary. This allows investors holding shares in the company to have 20 business days to sell their holdings.

"Depending on the outcome of the offer, once it has been consummated... the intention is to request the National Banking and Securities Commission (CNBV) to cancel the registration of the shares representing the social capital of Grupo Sanborns in the National Securities Registry, as well as the delisting of the shares on the Mexican Stock Exchange, with the purpose of ceasing to be listed in said stock market," the document reads. 

Grupo Sanborns, a subsidiary of Grupo Carso, focuses on operating stores and restaurants under the Sanborns brand. It also operates the Sears department store chain in Mexico, as well as iShop, which sells Apple products. 

Grupo Sanborns owns Mixup and DAX, a regional retail chain for cosmetics and perfumes. As of September, Grupo Sanborns reported a total of 435 stores and restaurants throughout Mexico, along with one Sears store in El Salvador, with a total sales floor area of 1,192,244 square meters. 

Their total revenue for January to September of this year amounted to 42,549.9 million pesos.