Dia Spain (Paris:CA - News) has entered into an agreement to acquire Plus Supermercados for EUR 200m; Tengelmann in Spain currently operates 250 Plus hard discount stores with a total sales area of 170,000 m². Tengelmann Spain recorded net sales of EUR 437 million for the twelve-month period ending April 07. The agreement also includes 58 future store projects. This transaction is subject to approval by the relevant authorities. Once this approval has been secured, Dia will undertake an optimisation of its portfolio in the regions affected. This acquisition allows Dia to reinforce its position as market leader in hard discount in Spain. At the end of 2006, Dia traded from 2,806 stores with net sales of EUR 3.5bn in Spain. This transaction forms part of Carrefour's strategy to reinforce its presence in key markets through a locally adapted multi format approach.
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