Mexico’s second-largest retailer Controladora Comercial Mexicana (Comerci) has announced that it has signed a letter of intent to purchase five hypermarkets and shopping malls in Mexico from French retailer Auchan.

Financial terms of the deal, which would see Comerci taking over the properties early next year, were not revealed.

Four of the Auchan properties are in Mexico City, while the fifth is situated in the city of Puebla, reported Reuters.