(Bloomberg) -- Grupo Coppel, the conglomerate controlled by the billionaire Coppel family that operates stores, banks and a pension fund in Mexico, has met with potential advisers to explore strategic options including a public share offering of the company in Mexico, according to people with knowledge of the matter.
While the company, controlled by five Coppel brothers, is considering ways to increase value, no final decisions have been made, and the deliberations won't necessarily lead to a deal, said the people, who asked not to be identified because the talks are private.
The retailer's department stores cater to lower-income shoppers, offering them the option to buy items such as sofas and iPhones on credit at interest rates of as high as 60 percent.
Coppel used to trade on the Mexican stock exchange but decided to delist its shares in 2007. News reports at the time said it had failed to meet certain listing requirements. Andrea Parra, a spokeswoman for Coppel, didn't respond to an email and phone call seeking comment.
Coppel was the fastest-growing Mexican retailer from 2008 until 2013. Last year, the stores had sales of $4.9 billion, according to data from market research company Euromonitor.
Enrique Ramon Coppel Luken, who sits on the board of Coppel, has a net worth of $2.6 billion, according to the Bloomberg Billionaires Index. Agustin Coppel, the retailer's chairman and chief executive officer, said in 2012 he disagreed with Bloomberg's calculation of his family's net worth.
To contact the reporter on this story: Michelle F. Davis in Mexico City at mdavis194@bloomberg.net.
To contact the editors responsible for this story: Arie Shapira at ashapira3@bloomberg.net, Richard Richtmyer
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