May 29, 2015 / 8:55 PM / 4 years ago

Dollar Tree to sell 330 Family Dollar stores to Sycamore Partners

A man walks to the Family Dollar store in Westminster, Colorado March 30, 2011. REUTERS/Rick Wilking

(Reuters) - Discount retailer Dollar Tree Inc (DLTR.O) agreed to sell 330 Family Dollar Stores Inc FDO.N stores to private equity firm Sycamore Partners to get antitrust approval for its $8.5 billion takeover of Family Dollar.

Dollar Tree said the stores represent about $45.5 million of operating income for Family Dollar, adding that Sycamore intends to operate the stores under the Dollar Express banner.

Dollar Tree said in April it identified about 340 stores for divestiture.

The pending acquisition and divestiture remain subject to the Federal Trade Commission’s clearance.

Reporting by Yashaswini Swamynathan in Bengaluru; Editing by Don Sebastian

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