Sare Holding SAB de CV announced consolidated earnings results for the third quarter and nine months ended September 30, 2012. For the quarter, the company reported incomes MXN 362.7 million against MXN 322.5 million a year ago. Operating loss was MXN 332.5 million against MXN 357.7 million a year ago. Loss before taxes was MXN 391.5 million against MXN 417.4 million a year ago. Net loss was MXN 274.1 million against MXN 292.2 million a year ago. LBITDA was MXN 229.5 million against MXN 313.9 million a year ago. For the nine months, the company reported incomes MXN 1,087.2 million against MXN 1,530.5 million a year ago. Operating loss was MXN 724.2 million against operating profit of MXN 162.1 million a year ago. Loss before taxes was MXN 881.9 million against income before taxes of MXN 62.7 million a year ago. Net loss was MXN 617.3 million against net income of MXN 43.9 million a year ago. LBITDA was MXN 567.1 million against EBITDA of MXN 567.1 million a year ago. Net debt was MXN 2,289.1 million against MXN 2,731.2 million a year ago.

Shares in Sare Holding SAB de CV jumped up more than 20% on July 5, 2012 after a report about Beamonte Investments, Inc. looking to acquire the company. On July 4, 2012, Bloomberg reported that Beamonte Investments might make an offer to acquire Sare on July 18, 2012. Reuters said that spokesman for Beamonte was not available for comments. Earlier Sare had told the stock exchange that it had had no contact with Beamonte.

Beamonte Investments, Inc. is looking to acquire Sare Holding SAB de CV and plans to hire an investment bank in the coming days, Beamonte’s Managing Director, Luis Trevino said by phone to Bloomberg. The shares of Sare soared 19% to MXN 1.37 on the news. Sare isn’t yet aware of any such bid, Gabriel Terrazas, Sare’s Finance Committee Chairman, said in a telephone interview from Mexico City to Bloomberg. Sare said in the statement that it is focused on the operation of its business and selling non-strategic assets to reduce debt.