Grupo Gigante Selling Retail Operations to Soriana

Grupo Gigante said last week it plans to sell all of its retail operations, except Super Precio convenience stores, to Monterrey-based Soriana, for $1.35 billion, subject to approval by Mexican authorities and a vote by its shareholders.

MEXICO CITY — Grupo Gigante here said last week it plans to sell all of its retail operations, except Super Precio convenience stores, to Monterrey-based Soriana, for $1.35 billion, subject to approval by Mexican authorities and a vote by its shareholders. That vote is scheduled for later this month, though Gigante officials were unable to pinpoint the date when asked by SN. The transaction involves 199 stores in Mexico operating under the Gigante, Bodega Gigante and Super G banners, and seve

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