Grupo Axo turns to BlackRock for funding

Grupo Axo turns to BlackRock for funding

Equity M&A Funds Asset Management Commerce Retail shopping Mexico United States Argentina Chile Uruguay Latin America

Mexican retailer Grupo Axo said it sold a 2.98% stake to US investment firm BlackRock for an undisclosed amount, raising money to expand its digital sales channels across Latin America. According to the terms of the deal, BlackRock has to the option to buy another 0.82% stake in Grupo Axo and join the US private equity firm General Atlantic among the shareholders, the Mexican company said in a securities filing. The transaction is still subject to approval from the anti-trust agency Cofece, it a

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