Gigante Hires Advisers to Review Possible Asset Sale

Grupo Gigante SAB, a Mexican supermarket and office-supply retailer, hired financial advisers to evaluate the possible sale of some of its businesses. The stock rose the most in more than 13 years.

The advisers will review strategic options, including new investments or the sale of units, Gigante said today in an e- mailed statement to the Mexican Stock Exchange. The operator of Office Depot and Radio Shack outlets in Mexico didn’t name which advisers it hired.

The Gigante announcement comes after newspapers reported that it will sell its grocery stores. Possible buyers include the four largest Mexican supermarket operators or Chilean retailers, analysts and investors said.”*

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