| Office Depot Says 'Adios' to Mexico Rich Smith - The Motley Fool | |
| go to original June 5, 2013 |
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Office Depot , still in the process of merging with peer OfficeMax , will be bringing a slimmer self to the marriage of equals.
Office Depot announced Tuesday that it has reached a definitive agreement to offload its 50% stake in its Latin American Joint Venture Office Depot de Mexico to local partner Grupo Gigante.
Gigante will pay $689.8 million for the JV stake, assuming Mexican antimonopoly regulators greenlight the deal. A decision on this is expected within 30 days. OfficeMax has already approved the sale.
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