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Casino Group To Sell Six Stores For EUR 18.3 Mln

French retailer Casino Group (0HB1.L,CGUIY.PK) said that it agreed to sell six of its stores for 18.3 million euros, as part of its strategy to sell structurally loss-making stores.

French retailer said the sale include one hypermarket, four supermarkets and one Leader Price, and expects to complete the sale in the second half of 2019.

"The agreements signed provide for the continuation of the employment contracts of the employees of these stores, in accordance with legal rules," the company said.

Casino indicated that the stores represented a turnover excluding tax of about 43 million euros and a trading loss of about 3 million euros in 2018.

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