Organizacion Soriana SAB de CV (BMV:SORIANA B) reached an agreement to acquire remaining 50% stake in Soriban from Banco Nacional de México, S.A.
November 13, 2016
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Organizacion Soriana SAB de CV (BMV:SORIANA B) reached an agreement to acquire remaining 50% stake in Soriban from Banco Nacional de México, S.A. on November 14, 2016. Post-completion, Organizacion Soriana will own 100% stake in Soriban. The transaction is subject to contractual conditions and various approvals from financial and competition regulating authorities. The deal will not have a material financial impact on the Banco Nacional de México's business.
Organizacion Soriana SAB de CV is a Mexico-based company primarily engaged in the food retail sector. The Company focuses on the development and management of a network of supermarkets, grocery and discount stores. It retails food, apparel, automotive accessories, sport goods, hardware, garden tools, toys, personal care products and electronic devices, among others. It operates stores under various brand names, such as Soriana Hiper and Mega hypermarkets, Soriana Super and Comercial Mexicana supermarkets, Soriana Express and Super City grocery stores, Soriana Mercado and Bodega discount supermarkets, as well as City Club membership clubs. Furthermore, it offers online shopping and delivery services through Soriana e-commerce platform. The Company operates through a range of subsidiaries, such as Centros Comerciales Soriana SA de CV and Tiendas de Descuento Monterrey SA de CV.
ORGANIZACIÓN SORIANA, S. A. B. DE C. V. 
