Walmex

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City: Mexico City

State: Distrito Federal

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Country: Mexico

Wal-Mart de México y Centroamérica (BMV: WALMEXV), is a Mexican public corporation, subsidiary of Walmart. It has been traded in the Mexican Stock Exchange since 1977 (as Cifra). The company was founded in 1958 as Cifra by Jerónimo Arango. The company grew and in 1991 Cifra and Wal-Mart Stores, Inc., signed a joint venture agreement. This agreement allowed cooperation between the two companies and the opening of Walmart stores and Sam&s;s Clubs in Mexico. Then in 1997 Walmart increased its stake by acquiring 51% of Cifra stock. Once the acquisition was completed Cifra was renamed, the new company became Wal-Mart de Mexico, S.A. de C.V. Walmart again increased its stake in Wal-Mart de Mexico to 60% in April 2000.[2] After completing the acquisition of Walmart&s;s operations in Central America, in January 2010, Walmart Mexico absorbed Walmart Centroamérica and changed their name to Walmart de Mexico y Centroamérica.

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