PLEASANTON, Calif. — In a move seen as a bold strike for both parties, Safeway has agreed to sell its lucrative Canadian business to Sobeys operator Empire Cos. for $5.8 billion in Canadian cash. The deal provides Stellarton, Nova Scotia-based Sobeys with a leading position in Western Canada and Safeway with around $4 billion after taxes — half of which will be used to reduce debt, officials said. But while financial leverage on Safeway will ease, pressure to improve its ...
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