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February 14, 2016 8:28 AM ET

Food and Staples Retailing

Company Overview of Organizacion Soriana SAB de CV

Company Overview

Organización Soriana, S. A. B. de C. V., together with its subsidiaries, operates various formats of supermarket stores in Mexico. The company’s supermarkets offer various grocery products, perishable goods, food, clothing, general merchandise, health products, and basic household services under retail, medium wholesale, and wholesale schemes. It also performs real estate business activities comprising leases of commercial premises adjacent to each store as part of the commercial area; and conducts commercial developments. The company operates 674 stores in the various formats consisting of 270 Hyper, 139 Markets, 126 Super, 105 Express, and 34 City Club stores; and 139 convenience stores un...

Alejandro de Rodas 3102-A

Col. Cumbres 8° Sector

Monterrey, NL 64610

Mexico

Founded in 1968

80,377 Employees

Key Executives for Organizacion Soriana SAB de CV

Organizacion Soriana SAB de CV does not have any Key Executives recorded.

Organizacion Soriana SAB de CV Key Developments

Soriana Talks With Prospective Comer Stores Buyers

Organizacion Soriana SAB de CV (BMV:SORIANA B) has contacted with potential buyers of the 12 stores it must sell off so as to meet with Comision Federal de la Competencia conditions set last month regarding Soriana's purchase of 146 stores belonging to Controladora Comercial Mexicana SAB DE CV (BMV:COMERCI UBC). Initially, the plan had been to buy 160 stores from La Comer but Cofece recommended that 26 should not form part of the package so as not to put competition at risk in the relevant localities. A quickly thrashed-out amended deal saw the 26 stores almost evenly split between Soriana and La Comer. The latter will most likely retain the 14 and re-build with some 54 stores to its name whilst the former is to divest from the 12 as ordered. That process will begin once the main transaction has been completed, notes Rodrigo Benet Cordova, director of Planeacion Estrategica y Comunicacion at Soriana, and may take up a sizeable chunk of 2016.

Soriana Identifies Buyers For 12 Comercial Mexicana Stores

As per the requirement by Mexican regulator, Cofece, Organizacion Soriana SAB de CV (BMV:SORIANA B) is required to sell 27 stores within a set period of time to purchasers approved by the regulator in order to get approval for the purchase of 160 stores from Controladora Comercial Mexicana SAB DE CV (BMV:COMERCI UBC). SeeNews reports on November 5, 2015, that Soriana identified three potential buyers for 12 of these stores.

Soriana To Sell 27 Stores

As per the requirement by Mexican regulator, Cofece, Organizacion Soriana SAB de CV (BMV:SORIANA B) is required to sell 27 stores within a set period of time to purchasers approved by the regulator in order to get approval for the purchase of these stores from Controladora Comercial Mexicana SAB DE CV (BMV:COMERCI UBC), Reuters reported.

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