Regulators OK Safeway's $5.7B Canada unit sale

Safeway says Canadian regulators OK $5.7B sale of Canadian supermarkets; to close in November

Associated Press

PLEASANTON, Calif. (AP) -- Safeway said Tuesday that Canadian regulators approved the $5.7 billion sale of its Canadian supermarkets to Sobeys.

As part of the deal, Sobeys will sell 10 of its own stores and 13 Canada Safeway stores, Safeway said.

The companies now expect the deal to close in November.

In June Safeway said it agreed to sell its stores in Canada to Sobeys, the second-largest grocery operator in Canada. Sobeys is buying 213 grocery stores in western Canada along with 62 fuel stations, 10 liquor stores, 12 manufacturing facilities and four distribution centers.

Safeway runs about 1,400 stores in the U.S. Besides its namesake supermarkets, the Pleasanton, Calif., company runs Vons, Randalls, Carrs and Tom Thumb stores.

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