Portugese retailing giant Jeronimo Martins has revealed that following its most recent divestment, UK sporting goods retailer Lillywhites, its debt level is now below €1.3bn (US$1.5bn).

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Analysts quoted in local newspaper Semanario Economico added that Jeronimo could reduce this debt further through the sale of its Jumbo retail chain in Poland to France’s Leclerc for €50m.

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