Sobey's parent Empire Co to buy Safeway Canada for C$5.8 bln
TORONTO, June 12
TORONTO, June 12 (Reuters) - Empire Company Ltd, parent of Canada's No. 2 grocer Sobey's, said on Wednesday it is acquiring the Canadian arm of Safeway Inc. for C$5.8 billion ($5.70 billion) in cash.
Empire said the deal, one of the biggest in the Canadian retail sector this year, includes 213 full service grocery stores under the Safeway banner in Western Canada. It said the acquisition will add to adjusted net earnings per share once the cost savings are fully realized.
- White House reverses, says Obama met uncle and lived with him during law school
- Flights delayed as air pollution hits record in Shanghai
- South Africa mourns Mandela, will bury him on December 15 |
- Analysis: Boeing bidders dangle goodies to win 777X jetliner
- RPT-UPDATE 1-Ford leans on global Mustang to burnish overseas image