MONTVALE, N.J., Nov. 26 /CNW/ - The Great Atlantic & Pacific Tea Company, Inc., Montvale, N.J. (A&P) (NYSE:GAP) said today that in connection with financing of the acquisition of Pathmark Stores, Inc., it has sold all of its 11,726,645 shares of Metro Inc. (Montreal, Canada), of which, 1,500,000 shares will be acquired by Metro Inc. Gross proceeds from the sale of the shares will approximate US$347 million.
Founded in 1859, A&P is one of the nation's first supermarket chains. A&P operates 410 stores in nine states and the District of Columbia under the following trade names: A&P, Waldbaum's, The Food Emporium, Super Foodmart, Super Fresh, and Food Basics. Additional information about A&P may be found at its web site, www.aptea.com.
