At least seven firms are helping Safeway check out of Canada, with one of North America’s largest food retailers reaching a $5.7 billion cash deal to sell its north-of-the-border unit to Sobeys, a subsidiary of Canadian grocery chain Empire Company.
Latham & Watkins is advising longtime client Safeway on the transaction. The firm has handled a number of high-profile deals involving Pleasanton, Californiabased Safeway over the years, such as its $5.5 billion sale to buyout shop KKR in 1986, several major debt financings, and $1.6 billion purchase of a controlling stake in The Vons Companies in 1996.
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