History - EN CARSO GROUP

1980-1990

In 1980 the Company incorporated in Mexico as Grupo Galas. Between 1980 and 1989 the Company acquired most of the shares of Cigatam, Artes Gráficas Unidas, Fábricas de Papel Loreto and Peña Pobre, Galas de México, Sanborns Hnos., Empresas Frisco, Industrias Nacobre and Porcelanite Holdings.

In May of 1990 the Company changed its name to Grupo Carso, and in June it listed its shares in the Mexican Stock Exchange. In 1990, through a public bidding process, Grupo Carso, together with Southwestern Bell International Holding Corp., France Cables ET Radio and a group of investors acquired control of Telmex.

1991-2001

From 1991 to 1995 Carso acquired shares of Compañía Hulera Euzkadi, Grupo Condumex, Grupo Aluminio and General Tire de México. Carso then spun off its shares in Telmex, to create Carso Global Telecom. During that period it also acquired 80% of the capital of Sears México. It liquidated its assets in the paper manufacturing company of Loreto and Peña Pobre and in the tire industry and acquired Conductores Latincasa and 49.9% of Philip Morris México. In 1999 Grupo Sanborns redefined its corporate structure as the commercial unit of Grupo Carso and acquired the pastry company Pastelería El Globo. During that same period Carso also purchased the company capital of Ferrosur, the holding company for the operating rights of the México-Veracruz-Coatzacoalcos railroad.

2002-2012

In 2003 Grupo Sanborns acquired six JC Penney stores and thirteen Pastelerías Monterrey stores, while Grupo Condumex made its entry into the construction of offshore platforms. En 2004 Sanborns acquired all the shares of Dorian´s Tijuana and opened three stores in El Salvador. Towards the end of that year it sold the Pasteleria El Globo pastry business. In 2005 Carso Infraestructura y Construcción carried out a public offering in the Mexican Stock Market. In 2007 the Condumex automotive cylinders and rings manufacturing business was sold, its participation in the tobacco business was reduced, Porcelanite was also sold and the first Saks Fifth Avenue store was opened.

2013-Actual

In 2010 Grupo Carso spun off its mining and real estate holdings in Minera Frisco and Inmuebles Carso. In 2013 Grupo Sanborns placed a public offering in Mexico and abroad, while Carso sold its remaining shares in Philip Morris México. In 2014, various oil, gas and electrical energy activities were grouped together in Carso Energy. In 2016 Grupo Sanborns acquired from Sears Roebuck the remaining 14% of participation in Sears México. Condumex increased its holdings in Elementia to 36.2%, and Carso Energy maintained its 51% share of participation in the Waha-Presidio and Waha-San Elizario gas pipelines.
Up to this date, Grupo Carso continues to consolidate its businesses portfolio in the four sectors that have been defined as strategic: Commercial, Industrial, Infrastructure and Construction and Energy.

We continue to constantly monitor the cost-effectiveness of our business lines, watching what we utilize and spend, in order to avoid the wasting of resources. We ensure that whatever we use is used efficiently, with the greatest productivity possible.