Weston Family To Sells Stocks To Loblaw Companies (TSX:L) & George Weston (TSX:WN)

 

  • Canadian holding company George Weston (TSX: WN) and grocery chain Loblaw Companies Limited (TSX: L) are reportedly set to by some shares from the Weston family of Canada in an internal reorganization.
  • Galen Weston, the Chairperson Emeritus of George Weston Limited, will be the controlling shareholder of the company’s bakery and real estate businesses following the sale.
  • The companies involved in the deal said that George Weston Ltd will remain with about 52.6 per cent of the Loblaw grocery chain and drug store’s outstanding shares following the sale.
  • George Weston and Loblaw Companies Limited are reportedly getting a discount of about 97 per cent on the average purchase price of the shares in the deal.
  • George Weston Limited is the controlling shareholder of Loblaw Companies Limited, holding an equity share of 52 per cent.
  • Galen Weston is said have no plans of selling any additional shares outside the family.
  • The companies announced on Friday, December 18, that the deal will go thought following the markets close on December 21 this year.
  • Stocks of George Weston Limited are currently priced at C$ 98.64, while the Loblaw Companies shares are valued at C$ 64.62.

Comment


Disclaimer

   
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK