Grupo Elektra Announces the Sale of Banco Azteca El Salvador to Grupo Perinversiones

—Grupo Elektra will concentrate its efforts on markets that strengthen its solid business model—

—Grupo Perinversiones will continue to reinforce banking operations that benefit large segments of the Salvadoran population—

MEXICO CITY, June 25, 2019 (GLOBE NEWSWIRE) -- Grupo Elektra, S.A.B. de C.V. (BMV: ELEKTRA*; Latibex: XEKT), Latin America’s leading specialty retailer and financial services company, and the largest non-bank provider of cash advance services in the United States, announced today that it sold all the shares of Banco Azteca El Salvador to Grupo Perinversiones, S.A. de C.V., a holding of Grupo Salume.

The transaction was authorized by the Superintendent of the Financial System and by the Superintendent of Competition of El Salvador, and the parties formalized yesterday, June 24, the purchase-sale transaction.

Grupo Perinversiones, S.A. de C.V., belongs to one of the most important consortiums in El Salvador, and is chaired by Mr. Adolfo Salume Artiñano, who has significant investments in the food and beverage, logistics, real estate, and financial services sectors.

Banco Azteca El Salvador, established more than 10 years ago, has successfully offered financial services to sectors unattended by traditional banking, providing enhanced access to banking and credit to large segments of the population that, in turn, helps to boost the development of the country.

Under the leadership of Mr. Adolfo Salume Artiñano, as well as the management team of Grupo Perinversiones and the bank itself, the institution will continue to strengthen its dynamic banking operations for the benefit of the Salvadoran population.

Grupo Elektra will focus its efforts on markets that currently promote its strong business model —with solid financial and commercial operations— which will advance the well-being and progress of the communities where it has a presence.

Company Profile:

Grupo Elektra is Latin America’s leading financial services company and specialty retailer and the largest non-bank provider of cash advance services in the United States.  The group operates more than 7,000 points of contact in Mexico, the United States, Guatemala, Honduras, Peru, Panama and El Salvador.

Grupo Elektra is a Grupo Salinas company (www.gruposalinas.com), a group of dynamic, fast growing, and technologically advanced companies focused on creating economic value through market innovation and goods and services that improve standards of living; social value to improve community wellbeing; and environmental value by reducing the negative impact of its business activities. Created by Mexican entrepreneur Ricardo B. Salinas (www.ricardosalinas.com), Grupo Salinas operates as a management development and decision forum for the top leaders of member companies. These companies include: TV Azteca (www.TVazteca.com; www.irtvazteca.com), Grupo Elektra (www.grupoelektra.com.mx), Banco Azteca (www.bancoazteca.com.mx), Advance America (www.advanceamerica.net), Afore Azteca (www.aforeazteca.com.mx), Seguros Azteca (www.segurosazteca.com.mx), Punto Casa de Bolsa (www.puntocasadebolsa.mx), Totalplay (www.totalplay.com.mx) and Totalplay Empresarial (totalplayempresarial.com.mx). TV Azteca and Grupo Elektra trade shares on the Mexican Stock Market and in Spain's Latibex market. Each of the Grupo Salinas companies operates independently, with its own management, board of directors and shareholders. Grupo Salinas has no equity holdings. The group of companies shares a common vision, values and strategies for achieving rapid growth, superior results and world-class performance.

Except for historical information, the matters discussed in this press release are concepts about the future that involve risks and uncertainty that may cause actual results to differ materially from those projected. Other risks that may affect TV Azteca and its subsidiaries are presented in documents sent to the securities authorities.

Investor Relations:

Press Relations:
Luciano Pascoe
Tel. +52 (55) 1720 1313 ext. 36553
lpascoe@gruposalinas.com.mx