Carso Plans To Delist Sanborns

Mexican conglomerate Grupo Carso, owned by local billionaire Carlos Slim, is planning to delist its retail group Sanborns after buying the rest of the company’s stock. On Monday, Carso offered to buy the remaining 16% stake of its retail company Grupo Sanborns for $377 million. Carso offered to buy the shares at a price of $2.36 (26 pesos) a share. According to analysts, the share acquisition by Carso is in response to shareholder concerns about the lack of liquidity of the company’s stock. Carso is planning to call a shareholder meeting to propose delisting Sanborns’ shares from the Mexican Stock Exchange.