May 30, 2017 / 11:23 PM / a year ago

Mexico's Alsea agrees to sell Grupo Axo stake to General Atlantic

MEXICO CITY, May 30 (Reuters) - Mexican restaurant operator Alsea said on Tuesday it had reached an agreement with U.S. investment firm General Atlantic to sell its minority stake in Grupo Axo, a company that operates fashion brands.

Alsea, which manages international fast-food franchises and coffee shops such as Starbucks and Domino’s Pizza, also announced a deal with Grupo Axo that would allow Axo to acquire the minority stake owned by Alsea in Axo units in Chile.

The two deals are worth a combined 1.6 billion pesos ($85.5 million), Alsea said in a statement. ($1 = 18.7190 Mexican pesos) (Reporting by Sheky Espejo; editing by Diane Craft)

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