Asda to take over Netto stores in UK
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Supermarket giant Asda has announced plans to buy the UK stores of Danish discount retailer Netto for £778m.
Asda said that, pending approval from the Office of Fair Trading, it hoped to finalise the deal later in the summer.
Netto has 193 stores in the UK which will continue to trade under the Netto name for the time being but will come under the Asda brand by mid-2011.
Asda plans to integrate the stores into its new supermarkets division for shops smaller than 25,000 square feet.
Netto, currently owned by Dansk Supermarked, has operated in the UK since 1990.
http://news.bbc.co.uk/1/hi/business/10171193.stm
Asda said that, pending approval from the Office of Fair Trading, it hoped to finalise the deal later in the summer.
Netto has 193 stores in the UK which will continue to trade under the Netto name for the time being but will come under the Asda brand by mid-2011.
Asda plans to integrate the stores into its new supermarkets division for shops smaller than 25,000 square feet.
Netto, currently owned by Dansk Supermarked, has operated in the UK since 1990.
http://news.bbc.co.uk/1/hi/business/10171193.stm
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