February 10, 2014 / 2:18 PM / 5 years ago

Brewer Grupo Modelo to sell Extra retail business to Circle K

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

Grupo Modelo GMODELOC.MX 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 Circle K.

The sale to Circle K, a unit of Canada’s Alimentation Couche-Tard Inc (ATDb.TO), awaits regulatory approval.

Reporting by David Alire Garcia; Editing by Lisa Von Ahn

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