French retailer Casino agrees initial deal to sell stake in Exito Group

Indebted French supermarket chain Casino said on Monday it had agreed an initial deal to sell its stake in Latin American retailer Almacenes Exito to Grupo Calleja. Casino's board on Friday approved a pre-agreement to sell its entire stake in Almacenes Exito to Grupo Calleja, a leading grocery retailer in El Salvador, it said.