• Technical Committee which includes Antonio Chedraui approved $450 million peso land purchase without disclosing to investors the land was owned by, among others, Antonio’s cousin Jose Chedraui Budib.

Mexico City, March 7, 2018 – — Documents released by the ChedrauiLeaks website show that when Antonio Chedraui Obeso was one of three independent members of the Technical Committee of Fibra Danhos, a developer that constructs, leases, operates, and manages commercial properties in Mexico City and Puebla, the company approved a transaction worth over 450 million pesos to buy land without disclosing it was owned by, among others, his cousin Jose Chedraui Budib.

The documents show that when Antonio Chedraui Obeso was an independent member of the audit and practices committees at the company, which is listed on the Mexican Stock Exchange, the Technical Committee of Fibra Danhos approved a transaction worth more than 450 million pesos to buy Puebla land from an “unrelated third-party,” according to what the company told investors. However, a party to the land deal was Jose Chedraui Budib, cousin of Antonio Chedraui Obeso.

Fibra Danhos operates shopping centers such as Parque Delta, Parque Duraznos, Parque Lindavista, Parque Puebla, and others. Before the deal, the site of Parque Puebla was managed by a company originally founded by Jose Chedraui Budib’s father Jose Chedraui Alam and his brothers.

ChedrauiLeaks notes Antonio Chedraui Obeso is one of the three independent members of the Technical Committee at Fibra Danhos and held an important role on the Audit and Practices Committees since they were created following the company’s 2013 IPO on the Mexican Stock Exchange. Fibra Danhos shares and debt are publicly traded.

Fibra Danhos disclosed the land deal via the Mexican Stock Exchange on June 6, 2014: “On April 11, 2014 Fibra Danhos signed a letter of intent with a non-related third party with respect to the acquisition by the former of certain adjacent plots of land in an urban center outside Mexico City.”

The Technical Committee had already approved the transaction on April 28. On June 18, Fibra Danhos shareholders authorized shares (“CBFIs”) to be issued to pay for the land deal.

The next quarterly report issued by Fibra Danhos (July 24, 2014) disclosed “The land plots for the development of this project will be contributed by non-related third parties in exchange of CBFIs.”

The company subsequently used similar “non-related third-parties” terminology in its disclosures through the Mexican Stock Exchange while the land deal was not yet final. The land deal was finalized at a market value of over 450 million pesos on September 3, 2015 (14,712,490 shares on a basis of the lowest 3Q15 closing price).

Antonio Chedraui Obeso is a co-founding boardmember of Grupo Comercial Chedraui, which operates two stores located in two Fibra Danhos shopping centers: a Chedraui Selecto (opened April 2015) at Toreo Parque Central and a Super Chedraui (opened around December 2015) at Parque Tezontle.

Related documents can be found online at:

About is a project of the United Food and Commercial Workers, to investigate the connections between the Chedraui family and other Mexican elites as well as their links to business and property in the United States, the business and political activities of Mexican elites generally, and provide information about the struggle of El Super workers for a better life. ChedrauiLeaks is not stating that any members of the Chedraui family or its businesses violated the law in connection with any of the events referenced in this press release.