A logo of French retailerÊCasinoÊis pictured outside aÊCasinoÊsupermarket in Nantes, France, July 27, 2023. REUTERS/Stephane Mahe/File Photo Acquire Licensing RightsPARIS, Oct 16 (Reuters) - Indebted French supermarket chain Casino (CASP.PA) said on Monday it had agreed an initial deal to sell its stake in Latin American retailer Almacenes Exito (IMI.CN) 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. Casino is in the midst of a restructuring after years of debt-fuelled acquisitions had brought it to the verge of default. The price per share may be reduced by extraordinary dividend distributions, asset transfers or similar transactions made by Exito, Casino added in a statement.

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Persons: Stephane Mahe, Almacenes, Exito, Sudip Kar, Olivier Sorgho, Jacqueline Wong, Lincoln Organizations: REUTERS, Rights, Grupo Calleja, Casino, Thomson Locations: aÊCasinoÊsupermarket, Nantes, France, El Salvador, Almacenes