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The Washington Post reports that Ahold's Giant Food Inc. has sold seven Washington, DC, area shopping centers for more than $120 million.

The buyer is Edens & Avant, a South Carolina-based real estate firm.

Barry F. Scher, vice president of public affairs for Giant, said the proceeds will be spent on building new stores and remodeling old ones, and that the sale has no relationship to the financial troubles and high debt load being carried by Ahold.
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