December 20, 2016 / 1:54 PM / 7 months ago

Rite Aid to sell 865 stores to Fred's

1 Min Read

Dec 20 (Reuters) - Rite Aid Corp, which is being acquired by Walgreens Boots Alliance Inc, said it would sell 865 stores to Fred's Inc for $950 million in cash.

The sale is in response to concerns raised by the Federal Trade Commission over the proposed $9.4 billion deal between Walgreens and Rite Aid.

Reporting by Gayathree Ganesan in Bengaluru; Editing by Anil D'Silva

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