Sobeys to sell 30 stores in Western Canada
(Reuters) - Canadian grocery chain Sobeys Inc, a unit of Empire Co Ltd (EMPa.TO: Quote), said it would sell 30 stores for about C$430 million ($391.4 million).
The sale of the stores, all in western Canada, follow Sobeys' agreement with Canadian antitrust regulators related to its purchase of the Canadian assets of U.S. grocery group Safeway Inc SWY.N for $5.7 billion last year.
Sobeys said it would sell 15 stores to Canadian supermarket chain Overwaitea Food Group and 14 stores to Federated Co-operatives Ltd.
Sobeys said it would sell one store to an undisclosed buyer.
The sales have been approved by the Canadian Competition Bureau. (r.reuters.com/wag86v)
($1 = 1.10 Canadian dollars)
(Corrects paragraph 1 to remove reference to Overwaitea. Corrects paragraph 3 to say that Sobeys will sell 15 stores to Overwaitea and 14 to Federated. Adds paragraph 4 to show one store will be sold to an undisclosed buyer)
(Reporting by Anannya Pramanick in Bangalore; Editing by Sriraj Kalluvila)
© Thomson Reuters 2017 All rights reserved.