RadioShack Corporation (NYSE: RSH) announced that it closed on a a stock purchase agreement yesterday that its subsidiaries Tandy International Corporation and ITC Services, Inc. entered into with Grupo Gigante, S.A.B. de C.V. in Mexico.
It appears that RadioShack is acquiring all of the issued andoutstanding shares of capital stock of Radio Shack de México(RadioMex), Logistic Answers, and Retail Answers. RadioMex owns and operates approximately 200 RadioShack branded stores in Mexico.
RadioShack acquired all of the issued and outstanding shares of theacquired companies approximately US$43 million dollars (after Pesoconversion). RadioMex, Logistic and Retail are now wholly ownedsubsidiaries of RadioShack.
Jon C. Ogg
December 16, 2008