French retailer Casino to sell catering arm 'R2C' to Compass
PARIS, Feb 14 () - French supermarket retailer Casino, which has been divesting assets to trim debts, said on Thursday that it had agreed to sell its contract catering business 'R2C' to Britain's Compass.
The deal, which one source close to the matter said was worth 25-30 million euros ($62 million), was expected to close by the end of the first half of the year.
Last month, when Casino achieved a target set out last year of 1.5 billion euros in asset sales, the company had said it would examine further steps to cut debt.
($1 = 0.8858 euros)