Soriana buys Mexico’s Comerci for $2.7 billion

Mexican supermarket chain Comercial Mexicana has agreed to sell most of its stores to its rival Soriana for $2.7 billion.

Comercial Mexicana, known locally as Comerci, said the sale of 160 stores, including the low-price Mega and Bodega Comercial Mexicana formats, will allow it to focus on its other brands where it sees greater growth opportunities.

Full story (in Spanish)