Office supplies and services firm Office Depot has completed the sale of its European business to Aurelius Group.
The transaction is part of the firm's international divestiture strategy to focus on opportunities in its North American business.
Go deeper with GlobalData
Office Depot announced its intention to divest its European operations to Aurelius last September.
The deal was structured as an equity sale, for nominal consideration, with Aurelius purchasing the European business with its assets and liabilities.
In addition to stationery, Office Depot offers print and document services, facilities products, business services, furniture, and school essentials.
As of FY2015, the firm generated annual sales of approximately $14bn, has 49,000 employees and operates 1,800 retail stores, e-commerce sites and a business-to-business sales organisation across 59 countries.
