Casino in talks to sell Leader Price to Aldi

French supermarket retailer Casino confirmed late on Thursday that it is in talks with German discounter Aldi about selling its discount chain Leader Price.

Casino said the two had entered into discussions "with a view to have Aldi France submit a binding offer" after it received an expression of interest from Aldi.

"Once known, if they are acceptable to the group, the offer parameters will be disclosed to the market," it said.

It said Leader Price employee representative bodies will be informed and consulted as soon as a sufficiently advanced project can be presented to them.

The statement followed a report in Les Echos suggesting that the deal could be worth around €400m.

At 0930 BST, Casino Guichard Perrachon shares were up 2% at €44.70.