French supermarket company Casino Guichard-Perrachon has said it has increased its stake in discount retailers Franprix and Leader Price.
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Casino said it has invested €260m (US$315.4m) to increase its stake in Franprix from 70% to 95%, and to raise its stake in Leader Price from 70% to 75%. The company said the move should increase its earnings per share by 2% in 2005, reported Dow Jones International News.
Casino and the retailers’ other shareholder, the Baud family, have said they plan to increase the expansion of Leader Price in France and abroad, in response to the growth in the discount retail market.
