UK/USA: Marks & Spencer completes sale of Kings for US$160m
UK high street retailer Marks & Spencer has completed the sale of its US subsidiary Kings Super Markets to D'Agostino Supermarkets for US$160m in cash. M&S was in negotiations to sell the 29 outlet strong Kings chain to New York-based grocer Gristede's Foods, but any deal was abandoned last week after it was unable to secure financing.
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