MEXICO: Retailer Comerci mulls bid, partnership offers
Mexican grocer Controladora Comercial Mexicana has said it is considering takeover approaches made by domestic and international suitors.
The retailer, which runs 200 stores in Mexico, said it had received "approaches from foreign and domestic groups interested in a partnership or strategic sale". The company said it was "exploring" the approaches.
Comerci is listed on the Mexican stock exchange but most of the business is owned by descendants of the company's founders.
Last week, Comerci issued its growth plans for 2014. It is planning to open three stores under its Mega banner and add a total of seven outlets to its City Market and Fresko chains.
Comerci forecast a 5.1% increase in annual sales to MXN49.58bn (US$3.73bn). It estimates same-store sales will rise 1.9%.
The retailer, which also runs restaurants and shopping malls, forecast a 5% increase in EBITDA to MXN4.22bn. Net profit is estimated to grow 6% to MXN1.98bn.
Mexican retailer Controladora Comercial Mexicana has posted lower first-quarter sales, with fiscal reform in the country weighing on consumer spending....
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