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By
Reuters
Published
Jul 5, 2015
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Mexico's Comerci said shareholders approve division plan

By
Reuters
Published
Jul 5, 2015

Mexican retailer Comercial Mexicana (Comerci) said on Thursday that its shareholders approved a proposal to divide the company into two entities, as part of an asset sale to its competitor Soriana.


In April, supermarket chain Soriana's shareholders approved the purchase of 160 stores from Comerci for some 39.19 billion pesos ($2.50 billion).

Comerci, which will keep 40 stores in the deal, has said the sale to Soriana will enable the company to concentrate on areas where it sees more growth opportunities.

Comerci shares closed up 0.61 percent at 49.76 pesos per share on Thursday.

 

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