French department store group Les Galeries Lafayette has received two offers for its on-line supermarket service, French media reports suggest.
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One bid has come in from French investment groups AGF Private Equity et Cita which is said to have the edge on another from French fresh and frozen products distributor, Toupargel-Agrigel,
Les Galeries Lafayette have declined to comment on the reports but the move to sell Telemarket is seen as allowing the group’s major shareholder, the Moulin family, to lighten its debts.
In 2001, Les Galeries Lafayette had been in advanced negotiations with Casino for the sale of Telemarket but these broke down over the asking price of around €120m (US$145m) which the French supermarket chain viewed to be too high.
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