METRO TO BUY A&P CANADA

MONTVALE, N.J. -- A&P is leaving Canada with a pocketful of cash, no debt and a plan to reinvest in its stateside stores.The retailer based here agreed last week to sell its 236-store Canadian division to Montreal-based Metro Inc. in a deal valued at about $1.475 billion -- a price that exceeded most analyst expectations and was "the best possible outcome" of A&P's previously announced plan to sell

MONTVALE, N.J. -- A&P is leaving Canada with a pocketful of cash, no debt and a plan to reinvest in its stateside stores.

The retailer based here agreed last week to sell its 236-store Canadian division to Montreal-based Metro Inc. in a deal valued at about $1.475 billion -- a price that exceeded most analyst expectations and was "the best possible outcome" of A&P's previously announced plan to sell the division, said Christian Haub, chairman and chief executive officer of A&a

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