By Cristina Roca

Casino Guichard-Perrachon SA (CO.FR) said Friday that it agreed to sell a number of its stores for a total of 42 million euros ($47.4 million).

French supermarket chain said it will sell 17 of its stores to German discount supermarket Lidl and one hypermarket to a Leclerc member.

Casino franchisees, which are 49% owned by Casino, have also signed an agreement to sell 16 stores to Lidl, the retailer said.

The sales are part of Casino's strategy to divest loss-making stores, the company said, and the disposals should be completed during the first half of this year.

Write to Cristina Roca at cristina.roca@dowjones.com

(END) Dow Jones Newswires

February 15, 2019 02:39 ET (07:39 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
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