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Office Depot Agrees to Sell European Business to Aurelius Group

Office Depot Inc. agreed to sell its European business to the Aurelius Group, helping sharpen its focus on the North American market after its failed merger with Staples Inc.

The deal will be structured as an equity sale for “nominal consideration,” Boca Raton, Florida-based Office Depot said Friday in a statement. The European unit has annual revenue of about 2 billion euros ($2.25 billion).