More on Safeway: The sale will net Safeway C$4B ($3.9B) in cash after taxes and expenses. $2B of...

|About: Safeway Inc. (SWY)|By:, SA News Editor

More on Safeway: The sale will net Safeway C$4B ($3.9B) in cash after taxes and expenses. $2B of the proceeds will be used to pay down debt, and most of the rest on buybacks. Canada Safeway had revenue of C$6.7B, operating profit of C$428M, and EBITDA of C$544M over the 12 months ending March 23. Safeway suggests "the higher multiples attributed to Canadian supermarket companies" contributed to its decision. The deal is expected to close in Q4, assuming regulatory approval. CC underway (webcast). SWY +32.2% AH. (PR)