Content about CCM

June 15, 2012

Costco Wholesale has agreed to buy out Controladora Comercial Mexicana's 50% share interest in Costco de Mexico, a joint venture, for about $760.4 million.

ISSAQUAH, Wash., and MEXICO CITY — Costco Wholesale has agreed to buy out Controladora Comercial Mexicana's 50% share interest in Costco de Mexico, a joint venture, for about $760.4 million.

In addition, Costco Mexico has declared a cash dividend of approximately $340.85 million, 50% payable to a subsidiary of Costco Wholesale and 50% to CCM. Costco Wholesale will use the dividend proceeds and existing cash and investment balances to fund the purchase. CCM will use the dividend and sale proceeds to pay down debt.