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Asda has reached an agreement with Dansk Supermarked A/S to buy its subsidiary Netto Foodstores Limited.
The Walmart-owned supermarket giant Asda said the transaction, which is subject to regulatory approval, would allow it to convert Netto's UK stores into Asda stores by the middle of 2011.
Asda intends to integrate the stores into its new supermarkets division for units smaller than 25,000 sq ft.
The Office of Fair Trading still has to give its verdict on the transaction. Asda expects the deal to finalise this summer.
The Netto stores will continue to operate under existing management until the deal is completed.