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French Supermarket Casino Sells Stores

Government protests crucially impacted retailer’s business

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Paris-based supermarket retailer Casino has begun divesting its assets to reduce its debts, agreeing to sell six of its Geant stores to its rival Leclerc for $114 million.

Prior to announcing the sale, the retailer reported a slowdown in its fourth-quarter revenue growth, citing government protests in France as having an impact on its business, according to Reuters.

“Reducing these losses will contribute to the group’s growth objective in trading profit in the France retail segment,” the company said in a statement it released Saturday.

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