July 2, 2021 |
Mexican retailer Grupo Axo has sold a 1% stake to private equity firm MXO Management for an undisclosed amount, just over a month after a similar deal with US investor BlackRock, according to a securities filing.
Grupo Axo has called off two planned acquisitions during the COVID-19 pandemic, but it has turned to sales of small equity stakes to invest in digital sales channels across Latin America.
It sold 2.98% to BlackRock for an undisclosed amount in May and gave the US firm the option to buy
Mexican retail group sells 1% to private equity firm MXO after a recent deal with BlackRock