Tiendas Neto S.A. DE C.V signed an agreement to acquire Tiendas Super Precio, S. A. De C. V. from Grupo Gigante SAB de CV (BMV:GIGANTE) for MXN 480 million in June 2012. The acquisition agreement includes the personnel transference, inventories, lease contracts, furniture and equipment as well as distribution centers. The deal was made through a private invitation process and is subject to antitrust approval. Javier Martinez del Campo, Jose Estandia and Ivan Perez of Jones Day acted as the legal advisors for Grupo Gigante SAB de CV.

Tiendas Neto S.A. DE C.V completed the acquisition of Tiendas Super Precio, S. A. De C. V. from Grupo Gigante SAB de CV (BMV:GIGANTE) on October 8, 2012.