Costco Buys Out CMM in Mexico JV

Costco Buys Out CMM in Mexico JV

Mexico M&A US

Costco is acquiring Controladora Comercial Mexicana’s 50% stake in their Costco de Mexico joint venture, for MXP10.65bn ($767m), the companies say. As part of the transaction, Costco Mexico is paying out a MXP4.77bn dividend, 50% of which goes to Costco to help it fund the purchase of CCM's stake, along with cash on hand and investment balances. CCM will receive the other 50% of the dividend, and use it and the proceeds from the sale to pay down debt. “We think it is a good use of our cash, and

Already have an account?

Free trial

Take a free two-week trial now for the latest news, data and market analysis.

Free Trial