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Spanish grocer DIA considers sale of French business -Bloomberg
March 27, 2014 / 5:06 PM / in 4 years

Spanish grocer DIA considers sale of French business -Bloomberg

MADRID, March 27 (Reuters) - Spanish discount grocer DIA has hired investment bank BNP Paribas to explore a potential sale of its French business as the company struggles to grow in the country, Bloomberg reported on Thursday, citing people familiar with the matter.

DIA, spun off from French retail chain Carrefour, has struggled to expand in France and is looking at options including a divestment of 865 French stores as early as this year, Bloomberg reported.

Shares in DIA traded 3.5 percent higher shortly before market close in Madrid at 6.6 euros per share, leading the gainers on the Spanish blue-chip index.

DIA declined to comment on Thursday. BNP Paribas in Madrid was not immediately available to comment. (Reporting By Sonya Dowsett; Editing by David Goodman)

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