Grupo Carso to Spin Off CompUSA Stake

Mexico’s Grupo Sanborns plans to spin off its 51% stake in money-losing computer retailer CompUSA Inc. into a newly created company that also will get a $200-million cash infusion.

Sanborns, the retail unit of Grupo Carso, will spin off the CompUSA stake in two parts to represent the indirect ownership of the shares by Carso and direct ownership by Sanborns’ public shareholders. Carso owns 80% of Sanborns, and the rest is owned by the public.

The move will lift a burden off both Carso and Sanborns by culling out Dallas-based CompUSA, which had an operating loss of $38 million in the second quarter.

The newly created company will be listed on the Mexican stock exchange independently of Carso and Sanborns, Carso said. The company’s statement wasn’t clear on where the $200 million would come from.

The newly created company that controls CompUSA will focus on investing in U.S. retail companies.