Sanborns for Sale; Grupo Carso Launches Public Offering

Grupo Carso plans to purchase all circulating shares of Grupo Sanborns at a price of 26 pesos per share.
The shares of Grupo Sanborns have seen a decline of 22.80% this year, and Grupo Carso aims to initiate a voluntary public offer for the acquisition.

According to the Mexican Stock Exchange, there are 2,246 million 940,829 shares outstanding. Photo: Plaza de las Estrellas.

07/28/2022

Grupo Carso, under the ownership of prominent businessman Carlos Slim, has unveiled its intention to initiate a public tender offer for all outstanding shares of Grupo Sanborns.

The announcement, made through a statement, reveals that Grupo Carso's Board of Directors has unanimously agreed to proceed with the process, offering a cash price of 26 pesos per share. As reported by the Mexican Stock Exchange (BMV), there are approximately 2,246,940,829 shares of Grupo Sanborns currently in circulation.

However, it is important to note that the completion of the offer is contingent upon obtaining the necessary corporate and regulatory approvals, as highlighted by Grupo Carso in a notice available on the BMV. Grupo Sanborns shares have experienced minimal activity in the local stock market, maintaining a consistent price of 22 pesos since July 18. The company's shares have encountered a decline of 22.80% thus far in the year.

Read the full article (in Spanish).

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