December 31, 2007
Mexican retailer Grupo Gigante plans to buy back $237.6m of its 8.75% 2016
Mexican retailer Grupo Gigante plans to buy back $237.6m of its 8.75% 2016 senior notes, tendered for in a buyback offer worth $260m. Also last week, Gigante shareholders approved the sale of 206 supermarkets to rival Organizacion Soriana for $1.35bn. Gigante is refocusing its business on real estate, its Toks restaurant chain, and joint ventures it has with RadioShack and Office Depot.