Casino Sells Venezuelan Operations To Government

France-based Casino has sold its 80% stake in Venezuelan retailer Cativen to the government of Hugo Chávez. In what has been described as a 'friendly' agreement the group's six Exito hypermarkets, 35 Cada supermarkets and six distribution centres will now be operated by the government who are set to use the network to sell staple products at subsidised prices. Despite the small size of Casino's operations in the South American country, exiting a market whose potential BMI feels is yet to be fully realised could have negative implications for Casino's future rate of

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