The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Globe Investor

News Sources

Take control of your investments with the latest investing news and analysis

Press release from Marketwire

The Jean Coutu Group Sells Rite Aid Shares

Wednesday, June 26, 2013

The Jean Coutu Group Sells Rite Aid Shares

16:49 EDT Wednesday, June 26, 2013

LONGUEUIL, QUÉBEC--(Marketwired - June 26, 2013) - On April 16, 2013, The Jean Coutu Group (PJC) Inc. ("The Jean Coutu Group" or the "Corporation") (TSX:PJC.A) completed the sale of 72,500,000 common shares of Rite Aid Corporation ("Rite Aid") after filing of a notice in accordance with the provisions of Rule 144 under the U.S. Securities Act of 1933. The Jean Coutu Group filed today an amended notice with the U.S. Securities and Exchange Commission indicating its intent to dispose of up to 40,500,000 additional common shares among its 105,901,162 common shares of Rite Aid and the sale of these shares has been completed today at an average price of US $2.75 per share for a net proceed of US $110.8 million. A gain of US $50.0 million will be recorded in the Corporation's net profit during the second quarter of the 2014 fiscal year.

The sale of these shares brings the Corporation's interest in Rite Aid's outstanding common shares down to 7.2%.

About The Jean Coutu Group. The Jean Coutu Group is one of the most trusted names in Canadian pharmacy retailing. The Corporation operates a network of 407 franchised stores located in the provinces of Québec, New Brunswick and Ontario under the banners of PJC Jean Coutu, PJC Clinique, PJC Santé and PJC Santé Beauté, which employs more than 19,000 people. Furthermore, the Jean Coutu Group owns Pro Doc Ltd ("Pro Doc"), a Québec-based subsidiary and manufacturer of generic drugs. The Corporation also holds an investment in Rite Aid Corporation ("Rite Aid") a national chain of drugstores in the United States with more than 4,600 drugstores in 31 states and the District of Columbia.

FOR FURTHER INFORMATION PLEASE CONTACT:

Contact Information:
Source:
The Jean Coutu Group (PJC) Inc.
Andre Belzile
Senior Vice-President, Finance and Corporate Affairs
(450) 646-9611, Ext. 1790


Information:
Helene Bisson
Vice-President, Communications
(450) 646-9611, Ext. 1165

Products
  • Globe Unlimited

    Digital all access pass across devices. subscribe

  • The Globe and Mail Newspaper

    Newspaper delivered to your doorstep. subscribe

  • Globe2Go

    The digital replica of our newspaper. subscribe

  • Globe eBooks

    A collection of articles by the Globe. subscribe

See all Globe Products

Advertise with us

GlobeLink.ca

Your number one partner for reaching Canada's Influential Achievers. learn more

The Globe at your Workplace
Our Company
Customer Service
Globe Recognition
Mobile Apps
NEWS APP
INVESTING APP
Other Sections