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Bonds News

French retailer Casino sells U.S. Smart&Final stake

PARIS, Feb 20 (Reuters) - French retailer Casino CASP.PA is to sell its 55 percent stake in U.S. food and restaurant supply retailer Smart & Final SMF.N in a move that will help Casino meet its debt reduction goals.

Casino said on Tuesday it had signed an agreement with private equity company Apollo for the sale of the 17.6 million shares at $22 each.

The sale will cut Casino’s debt by 350 million euros ($460.1 million).

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