Dollar Tree to sell 330 Family Dollar stores

Discount retailer Dollar Tree Inc. agreed to sell 330 Family Dollar Stores Inc. stores to private equity firm Sycamore Partners to get antitrust approval for its $8.5 billion takeover of Family Dollar.

The stores represent roughly $45.5 million worth of operating income for Family Dollar, according to Reuters.

Sycamore intends to operate the stores under the Dollar Express banner.

The pending acquisition and divestiture remain subject to clearance by the Federal Trade Commission.

Read more from Reuters.