DIA Said to Hire BNP to Explore Sale of French Business

Distribuidora Internacional de Alimentacion SA, a Spanish discounter, is working with BNP Paribas SA on a potential sale of its French business as the company struggles to grow in the country, according to people familiar with the matter.

DIA, as the Madrid-based retailer that was spun off from Carrefour SA is known, is exploring options including a divestment of its 865 French stores as early as this year, said the people, asking not to be identified because the deliberations are private. One option is to sell the French business by regions, one of the people said.