BRIEF-Supervalu reports sale of Save-A-Lot business for $1.365 billion

Mon Oct 17, 2016 6:59am EDT
 
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Oct 17 (Reuters) - Supervalu Inc

* Supervalu Inc - expects to use net proceeds from sale to prepay at least $750 million against its outstanding term loan balance

* Supervalu - intends to use remaining net sale proceeds to further reduce debt and improve its capital structure

* Supervalu - will provide Save-A-Lot with certain services and support functions for its day-to-day operations Source text for Eikon: Further company coverage: