Empire to Raise $100 Million

Empire Co., parent of the Sobeys chain, has reached a deal to raise about $100 million (U.S.) from the sale of class A shares, the Halifax Chronicle Herald newspaper said.

STELLARTON, Nova Scotia — Empire Co., parent of the Sobeys chain, has reached a deal to raise about $100 million (U.S.) from the sale of class A shares, the Halifax Chronicle Herald newspaper said.

A group of underwriters led by Scotia Capital would buy 2.5 million shares at $49.75 (Canadian) per share.

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