September 19, 2022 |
Mexican department store chain El Puerto de Liverpool said it acquired a 9.9% stake in US clothing retailer Nordstrom.
Liverpool paid MXN5.9 billion ($294 million) to buy the shares on the New York Stock Exchange and financed the purchase with cash on hand, it said in a securities filing.
"For El Puerto de Liverpool, this transaction represents an attractive opportunity for the geographic diversification of its assets," the Mexico City-based department store said.
With more than 350 stores in th
Mexican department store acquires a 9.9% stake in the US retailer