Costco to buy out Mexican joint-venture partner for $760 million

Costco Wholesale Corp. said it will buy out the partner in its Mexican joint venture for an amount equivalent to $760.4 million.

Costco will gain Controladora Comercial Mexicana SAB’s 50 percent stake in Costco de Mexico, which has declared a cash dividend of about $341 million payable to each of the existing owners, the Issaquah, Washington-based retailer said today in a statement.