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Loblaw Companies Ltd To Spin Real Estate Into REIT-Reuters


Thursday, 6 Dec 2012 02:50pm EST 

Reuters reported that Loblaw Companies Ltd said it plans to spin off the vast majority of its property assets into a real estate investment trust, sending its stock and that of its parent, George Weston surging higher. The company said it plans to spin off real estate worth more than CAD7 billion ($7.05 billion) into the REIT and sell units of the trust through an initial public offering that it hopes to complete by mid-2013. 

Company Quote

54.15
0.78 +1.46%
4:00pm EDT