PARIS, May 14 (Reuters) - French supermarket group Auchan Retail has agreed to sell almost all the activities of Auchan Retail Italia to Conad, the Italian co-operative retail group, for an undisclosed amount.
The French retailer had said in March that it was conducting a review of its loss-making markets, such as Italy and Vietnam where it faced tough market conditions.
In 2017, Auchan launched a three-year plan to modernise its hypermarkets, accelerate online expansion and focus more on smaller convenience stores. It already closed 23 loss-making stores in Italy last year.
The Italian disposal will be finalised following approval from the Italian competition authority, and the sale does not apply to the 33 non-franchised supermarkets located in Sicily or the 50 Lillapois drugstores. (Reporting by Dominique Vidalon; Editing by Sudip Kar-Gupta)