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France's Carrefour to buy 47 stores in Spain

Reuters
FILE PHOTO: Customers shop in a supermarket near Paris

PARIS (Reuters) - Carrefour has reached an agreement with El Corte Inglés to buy 47 stores under the SuperCor banner in Spain, for an enterprise value of 60 million euros ($64.4 million), the French retailer said on Wednesday.

The deal includes supermarkets and convenience stores notably located in the regions of Madrid, Catalonia, Andalucia and Comunidad Valenciana.

Carrefour plans to convert the acquired stores to the Carrefour Market, Carrefour Express and Supeco banners.

($1 = 0.9318 euros)

(Reporting by Dominique Vidalon; Editing by Sharon Singleton)