Sanborns delists from the Mexican Stock Exchange

Grupo Carso acquired 13.1% of the shares of its subsidiary Grupo Sanborns, through the public offer that concluded on December 22, thereby increasing its ownership in the company to 99.9 percent. Said percentage is enough to delist it from the Mexican Stock Exchange (BMV), as announced at the end of July of this year.

The group, owned by businessman Carlos Slim, managed to buy practically all the titles proposed in the takeover bid (OPA), which represented 13.2% of the papers that were in the hands of minority investors.

After “having obtained a sufficient number of shares, it is intended to request the National Banking and Securities Commission (CNBV) to cancel the registration in the National Securities Registry of the shares representing the share capital of Grupo Sanborns, as well as the cancellation of their listing on the BMV, in order to stop trading on said stock market”, reads the notice of the results of the takeover bid.

The document details that Grupo Carso acquired around 294.5 shares of the 297.1 million that it sought to obtain in total as part of this process that began on November 23.

For each share acquired, 26 pesos were paid, for which Grupo Carso had to disburse 7,656.9 million pesos to remove its subsidiary from the Mexican stock market.

Before this operation, the Slim family had 87% of Grupo Sanborns, which is dedicated to the operation of stores and restaurants under the brand with the same name and reported a market capitalization of around 50,000 million pesos.

judith.santiago@eleconomista.mx