Safeway real estate unit sold for $830M

Safeway said it has completed the sale of its real estate development assets to Terramar Retail Centers.

The assets, owned by Safeway’s wholly owned subsidiary Property Development Centers, sold for approximately $830 million, subject to certain adjustments.

The estimated total cash payment to Safeway stockholders for PDC is $2.45 per share, of which $2.38 is estimated to be paid at the closing of the pending merger between Safeway and Albertsons. Safeway stockholders will

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