Grupo Axo deals another equity stake

Grupo Axo deals another equity stake

Equity Corporate & Sovereign Strategy Capital Markets Asset Management Funds Commerce Retail shopping Mexico

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

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