OFFICE DEPOT TO ENTER COLOMBIA

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OFFICE DEPOT TO ENTER COLOMBIA

 user 2008-12-10 at 1:08:16 pm Views: 44
  • #20617

    http://www.reuters.com/article/mergersNews/idUSN0832812920081208
    Mexico’s Gigante, Office Depot to enter Colombia
    MONTERREY, Mexico, Dec 08 – Mexican retailer Gigante on Monday said it had agreed with its U.S. partner Office Depot Inc to expand their Latin American joint venture into Colombia.Gigante said the expansion into the South American country would be funded by the joint venture it has with its U.S. partner.

    Company officials were not available for further comment.
    Gigante’s $430 million bid to buy Office Depot’s 50 percent stake in the joint venture in Mexico was rejected by the U.S. office supply giant in October and both companies said they would look for alternatives to expand in the region.Gigante also operates stores including consumer electronics retailer RadioShack Corp  in Mexico.