SALT LAKE CITY -- American Stores Co. here has signed a definitive agreement to sell its 33-store Star Market Co. operation to an investment group organized by Investcorp for $285 million cash and the assumption of debt. Investcorp, an international investment bank with offices in New York, London and Bahrain, has a number of U.S. holdings, including Saks Fifth Avenue, New York, and the convenience-store operator Circle K Corp., Phoenix. Investcorp's clients include overseas investors, with ...

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