Mccoll's Share News (MCLS)

(ShareCast News) - Convenience retailer McColl's Retail Group was welcoming a decision by the Competition and Markets Authority on Tuesday, to give final and unconditional approval to its acquisition of 298 convenience stores from the Co-operative Group that was announced on 13 July.The London-listed company said it will begin to integrate the stores in late January and expects all conversions to be completed by the end of August 2017.At that point convenience stores will comprise over three quarters of McColl's total estate, with the board saying the deal represents the achievement of another significant milestone for the business."We are delighted that the CMA has approved our acquisition of these 298 quality convenience stores," said McColl's chief executive Jonathan Miller."This is a transformational deal, which substantially accelerates our growth strategy and expands our neighbourhood presence for the benefit of our customers."We have a long history and proven track record of successfully integrating convenience stores into our estate, and we expect these newly acquired stores to make a significant contribution to our future strategic plans."