CORRECTED-Brewer Grupo Modelo to sell Extra retail business to Circulo K

Thu Feb 13, 2014 12:53pm EST

(In Feb 10 story, corrects to make clear the sale was to Circulo K, a licensee of the Circle K brand, not to Circle K. A corrected story follows:)

MEXICO CITY Feb 10 (Reuters) - Brewer Grupo Modelo has reached an agreement with Circulo K to sell its Extra convenience stores in Mexico, the company said in a statement on Monday.

Grupo Modelo said the transaction would allow it to focus on its core beer business, but did not disclose the value of the sale or how many Extra stores would be sold to Circulo K.

The sale to Circulo K, which is a licensee of the Circle K brand, awaits regulatory approval. (Reporting by David Alire Garcia; Editing by Lisa Von Ahn)

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