PARIS (Reuters) – French supermarket retailer Casino (PA:), 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.
Earlier this week, Casino reported a slight slowdown in revenue growth during the fourth-quarter as anti-government protests in France impacted its business, although Casino kept its overall financial targets.
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