Sobeys To Sell 23 Stores As Condition Of $6B Safeway Buy

Law360, New York (October 22, 2013, 7:15 PM EDT) -- Sobeys Inc. will sell 23 of its stores in order to assuage concerns that its $5.7 billion acquisition of rival Safeway Inc.'s Canadian operations would create an anti-competitive environment in the grocery retail sector, Canada's Competition Bureau announced Tuesday.

The bureau said that Sobeys entered a consent agreement to divest its stores after the regulator had completed its merger review process and determined that the deal would lead to a “substantial lessening or prevention of competition” among Canadian food retailers.

“I am confident this agreement will...
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