Sears Holdings says could sell its majority stake in Sears Canada

Wed May 14, 2014 6:17am EDT
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May 14 (Reuters) - Sears Holdings Corp said it was looking to sell its 51 percent stake in Sears Canada, or could even put the struggling Canadian department store operator up for sale.

Sears Holdings, which operates nearly 2,500 retail stores in the United States and Canada, said it would hire an investment bank to help explore alternatives for its stake in the Canadian company.

Sears Canada has a market capitalization of C$1.6 billion ($1.5 billion). ($1 = 1.0905 Canadian Dollars) (Reporting by Ashutosh Pandey in Bangalore; Editing by Savio D'Souza)