Supermarket retailer Casino to sell six stores to rival Leclerc

Reuters

Published Jan 19, 2019 03:48AM ET

Supermarket retailer Casino to sell six stores to rival Leclerc

PARIS (Reuters) - French supermarket retailer Casino (PA:CASP), in the process of divesting assets to cut debts, has agreed to sell six of its 'Geant' hypermarket stores to domestic rival Leclerc for 100.5 million euros ($114 million).

"Reducing these losses will contribute to the group's growth objective in trading profit in the France retail segment," Casino said in a statement on Saturday.