Comerci Sells Stake in Prestacomer

Mexican retailer La Comerci has sold its 50% stake in local credit card company Prestacomer to BNP Paribas Personal Finance, with which it already has a partnership, for MXP120m. The sale comes shortly after Comerci announced it would sell assets to pay off debt. The company defaulted after recording losses on forex derivatives. Credit Suisse has been advising the retailer.