Office Depot Reaches Agreement To Sell China Operations To Shanghai Company For Undisclosed Sum

By Ciara Linnane Markets MarketWatch Pulse

Office Depot Inc. said Friday it has reached a deal to sell its China operations to Shanghai M&G COLIPU Office Supplies Co. Ltd. for an undisclosed sum. The office supplies retailer announced its intention to sell all of its international businesses in 2016. The deal is expected to close in the next few months. Shares were not active premarket, but have gained 14% in 2017, while the S&P 500 has gained 8.5%.

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