August 19, 2014 / 2:45 AM / 3 years ago

Comercial Mexicana nears deal to sell restaurants -Bloomberg

MEXICO CITY, Aug 18 (Reuters) - Mexican supermarket chain Comercial Mexicana is closing in on an agreement to sell most of its restaurant business for around 1 billion pesos ($77 million), Bloomberg reported on Monday, citing two people with knowledge of the matter.

The firm, known as Comerci, could reach a deal as early as this week to sell a majority of its Restaurantes California and Beer Factory eateries to retailer Grupo Gigante , the report said, citing one of the two sources.

Comerci, which operates up-market stores such as City Market, said in January it was considering selling itself, and had been approached by foreign and local parties interested in a venture or sale. (Reporting by Alexandra Alper; Editing by Edwina Gibbs)

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