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Canada: Sobeys announces $400 million grocery divestiture

By  |  February 14, 2014

Canada’s Sobeys has reportedly reached an agreement to sell $400 million worth of grocery stores in western Canada.

The chain inked deals with rival Overwaitea Food Group, Federated Co-operatives Ltd and one undisclosed buyer.

According to reports, the sales are part of concessions made last year in its acquisition of US group Safeway in a $5.7 billion buy.

The divestitures, totaling the sale of 30 locations, have already earned approval by Canada’s Competition Bureau, say reports.

Full Content: Reuters

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