The Great Atlantic & Pacific Tea Company sells A&P Canada
Founded in 1859, A&P, one of the nation's first supermarket chains, is today among North America's largest.
16/08/05 The Great Atlantic & Pacific Tea Company, Inc. has announced that its subsidiary, A&P Luxembourg S.a.r.l., has completed the previously announced sale of A&P Canada to METRO INC., a supermarket and pharmaceutical operator in the Provinces of Quebec and Ontario, Canada. The Company said it has received proceeds of approximately $1.550 billion in cash, stock and certain debt that was assumed by the buyer, after giving effect to foreign currency contracts. The stock received consists of 18,076,645 Class A Subordinate Shares of METRO INC., representing approximately 15.83% of the outstanding shares of that class after this issuance.
Founded in 1859, A&P, one of the nation's first supermarket chains, is today among North America's largest. The Company operates 442 stores in 10 states and the District of Columbia under the following trade names: A&P, Waldbaum's, The Food Emporium, Super Foodmart, Super Fresh, Farmer Jack, Sav-A-Center and Food Basics.
