Dutch supermarket group Laurus has agreed to sell most of its loss-making Belgian activities to discount chain Colruyt.
Laurus did not disclose the financial terms of its deal with Colruyt, but said the deal involved 21 of its Battard and five of its Central Cash stores, as well as the wholesale activities of a number of franchises, including those operating under the Spar banner. The deal is subject to approval from competition authorities.
The retailer said it was in talks with two other potential buyers, Distribution Alimentaire Discount Belge and Delfipar, for the remainder of its Belgian operations.
Laurus and Colruyt aim to finalise the deal by the end of April.