A&P sells Canadian division to Metro
A&P sells Canadian division to Metro
The Great Atlantic & Pacific Tea Co. sold its 236 Canadian stores to the Quebec-based Metro Inc. retail operation this week in a move that was apparently very well received by the U.S. business community.
In Canadian dollars, the deal was announced at $1.7 billion: $1.2 billion Canadian in cash and $500 million Canadian in stock. The infusion of cash will help A&P retire much of its U.S. debt and refurbish many of its stores.
In Canadian dollars, the deal was announced at $1.7 billion: $1.2 billion Canadian in cash and $500 million Canadian in stock. The infusion of cash will help A&P retire much of its U.S. debt and refurbish many of its stores.