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MarketScreener Homepage  >  Equities  >  Nyse  >  Office Depot Inc    

OFFICE DEPOT INC

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Office Depot Inc : Mexico's Gigante does not rule out Office Depot purchase

02/18/2013 | 06:30pm EST
Office Depot store front is shwon in California

MEXICO CITY (Reuters) - Mexican retailer Grupo Gigante on Monday did not rule out a possible acquisition of the 50 percent stake in the Mexican unit of U.S. office-supply store chain Office Depot that it does not already own, following a report it was in talks to do so.

The company (>> Grupo Gigante, S.A.B. de C.V.) has been considering options related to its 50 percent holding in Office Depot's (>> Office Depot Inc) local unit since 2008, Grupo Gigante said. Last week U.S. news agency Bloomberg said it was in talks to buy the other half.

Gigante has held talks with various financial institutions "with a view to using credit lines for financial purposes to execute its business plan and that of its subsidiaries," the company said in a statement to Mexico's stock exchange.

The business plan does not exclude acquisitions, but it does also include organic growth, the statement said.

(This story has been corrected to show Gigante holds 50 percent stake in Mexican unit of Office Depot)

(Reporting by Elinor Comlay; Editing by Bernard Orr and Marguerita Choy)

Stocks treated in this article : Grupo Gigante, S.A.B. de C.V., Office Depot Inc

© Reuters 2013
Stocks mentioned in the article
ChangeLast1st jan.
GRUPO GIGANTE, S. A. B. DE C. V. 0.78% 25.8 End-of-day quote.-27.14%
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NameTitle
Gerry P. Smith Chief Executive Officer & Executive Director
Joseph S. Vassalluzzo Non-Executive Chairman
Diego Anthony Scaglione Chief Financial Officer & Executive Vice President
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Terry Leeper Chief Technology Officer & Executive VP
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