February 6, 2019 |
Mexican conglomerate could acquire up to 30% of low-cost chain Miniso, analysts say
Mexico's Grupo Carso could buy 20% to 30% of the Japanese low-cost retailer Miniso, LatinFinance has heard.
"Miniso has had very strong growth, and Carso has been impressed with the model," said Carlos Hermosillo, an analyst at the local brokerage firm Actinver. "Carso's traditional formats are also not growing as fast anymore."
The Mexican conglomerate, owned by the billionaire Carlos Slim, could buy as little as 10% of Miniso, but it is more likely to go for 20% to 30%, analysts said.
"This is a small retailer, so it would not make sense to buy a small stake," said another analyst.
Carso, which owns Sears México and the Sanborns restaurant and and retail chain, said on Monday that it has struck a preliminary agreement to buy a minority stake in Miniso, but it did not provide more details.