LONDON: The UK Competition and Markets Authority has approved the sale of Musgrave Group’s loss-making British business to Booker for €57 million.
The Cork-based group, which owns SuperValu and Centra, said it will now move to complete the deal after Booker in a move that sees Musgrave exiting the UK market.
The decision to sell the business comes after Musgrave last summer wrote down about €131 million in relation to the British operation, which covers about 1630 franchised Londis stores and 167 Budgens outlets.
