Target Corp. has signed an agreement to transfer the leasing rights for up to 39 Zellers stores in Canada to rival Wal-Mart Stores.

Specific locations will be revealed in autumn, Wal-Mart Canada said on Friday (24 June). Terms of the transaction were not disclosed.

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Zellers is Canada’s second-largest chain of mass merchandise discount stores. Target entered into an agreement earlier this year to purchase the lease agreements of up to 220 Zellers stores for C$1.83bn (US$1.85bn) from Hudson’s Bay Co.

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