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JAN 10, 2013 - Yahoo! News

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Supervalu selling 877 supermarkets in $3.3 billion deal

(Reuters) - Supervalu Inc struck a $3.3 billion deal to reduce its burdensome debt by selling five of its supermarket chains to an investor group led by Cerberus Capital Management LP , the No. 3 U.S. grocery store operator said on Thursday. Supervalu has been losing customers to rivals like Kroger Co and Wal-Mart Stores Inc . News of the pending asset sale sent its shares up more than 14 percent on the New York Stock Exchange. ...

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