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UPDATE 1-Mexico's Alsea agrees to sell Grupo Axo stake to General Atlantic

(Adds request for comment from General Atlantic)

MEXICO CITY May 30 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.

General Atlantic did not immediately respond to an after-hours request for comment. ($1 = 18.7190 Mexican pesos) (Reporting by Sheky Espejo; editing by Diane Craft)

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