Britain's B&M sells German unit for 12.5 mln euros

British discount retailer B&M European Value Retail said on Wednesday it has agreed the sale of its loss-making German business, Jawoll, to a consortium led by AC Curtis Salta for 12.5 million euros ($14.2 million).

Last November, B&M wrote down the value of Jawoll and put it under review.

AC Curtis Salta is funded by Adiuva Capital. ($1 = 0.8814 euros)