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In an effort to cut some of its debt, French Casino, a grocery and c-store operator, is pulling out of the Poland market, leaving 140 of its c-stores to Tesco.
Tesco bought the stores for £72 million, which equates to $132.6 million USD. It expects to boost sales in Poland by £167 million with this acquisition, Reuters reported. The sale does not include an additional 139 franchised Leader Price stores.
Tesco has been in the Polish market for a decade and operates 74 branded stores and another 31 smaller stores under the Savia name, Reuters said.
Casino believes that this sale, along with 26 of its grocery stores, would eliminate its debt by 925 million euros, or $1.17 billion USD. Casino is still looking to sell five more stations with fuel in Poland, along with other real estate, the report stated.
In other Tesco news, the company plans to install 11 mini-checkouts in the front of its Metro store in the Bishopsgate area. The self-checkouts will account for more than half of the front-end lanes in the store, making it the largest single-store self-checkout deals in the U.K., according to NCR, the provider of the FastLane Mini units.
"We have already deployed smaller installments of the NCR FastLane Mini self-checkout in six other busy city stores in London, and the customer acceptance has exceeded our expectations," said Attila Winstanley, productivity director for Tesco.
In other International news, 137 gas stations are up for grabs in the Dominican Republic as Shell continues to sell off its operations, reported Dominican Today.
According to the Asociacion Nacional de Detallistas de Gasolina, (ANADEGAS) a gasoline retailers association, Shell had asked them to make offers on the stations.
ANADEGAS president Juan Ignacio Espillat confirmed the offer, telling Dominican Today that retailers received a signed letter by Shells' Dominican representative Rafael Maradiaga. "The offer includes 137 gas stations, the trucks fleet, 50 percent of the Dominican petroleum refinery and the agrochemical connected businesses," Espillat said.