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BRIEF-Metro enters agreements to sell majority of its holding in Alimentation Couche-Tard
October 11, 2017 / 10:03 PM / 12 days ago

BRIEF-Metro enters agreements to sell majority of its holding in Alimentation Couche-Tard

Oct 11 (Reuters) - Metro Inc:

* Metro enters into agreements to sell the majority of its holding in alimentation Couche-Tard

* Says co’s unit to sell to dealers 11.4 million class B subordinate voting shares of Couche-Tard for proceeds of about $650 million

* Says Metro Holdings has agreed to sell to dealers 11.4 million class B subordinate voting shares of Couche-Tard at a price per share of $57.17​

* Says ‍after tax net proceeds will be used to finance previously announced business combination with Le Groupe Jean Coutu (PJC) Inc (Jean Coutu)

* Says Metro Holdings entered deal with Couche-Tard for repurchase for cancellation 4.4 million class B multiple voting shares of Couche-Tard at $57.17per share​

* Says ‍co’s unit to sell to Caisse De Dépôt Et Placements Du Québec 11.4 million class A multiple voting shares of Couche-Tard at $57.17​/share

* Says following sales, repurchase, Metro Holdings to have about 3.9% of issued, outstanding class A multiple voting shares in capital of Couche-Tard​

* Says ‍after tax net proceeds to be used to finance combination with Le Groupe Jean Coutu, reduce Metro’s committed bank facilities​ Source text for Eikon: Further company coverage:

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