The Vivarte group says it has entered exclusive negotiations to sell San Marina, one of the last footwear retail chains in its possession, to Thierry Le Guénic and Stéphane Collaert, the French entrepreneurs who have already bought another shoe retail chain, Cosmoparis, and the Chevignon brand of sportswear. San Marina generated a turnover of €110 million last year. It's not clear at this stage whether the San Marina deal would prevent Vivarte's creditors from taking over the balance of the group, consisting of La Halle, Minelli and Caroll.

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