Press release from Marketwire
The Jean Coutu Group Sells its Remaining 65.4 Million Shares of Rite Aid
Thursday, July 18, 2013
The Jean Coutu Group Sells its Remaining 65.4 Million Shares of Rite Aid12:13 EDT Thursday, July 18, 2013
LONGUEUIL, QUÉBEC--(Marketwired - July 18, 2013) - In accordance with the provisions of Rule 144 under the U.S. Securities Act of 1933, The Jean Coutu Group (PJC) Inc. (TSX:PJC.A) ("The Jean Coutu Group" or the "Corporation") filed on July 17, 2013 a notice indicating its intent to dispose of its 65,401,162 common shares of Rite Aid Corporation (" Rite Aid "). The Jean Coutu Group completed the sale of these shares today, which were sold at an average price of US$ 2.95 per share for a net proceed of US$ 192.2 million. A gain of US$ 94.1 million will be recorded in the Corporation's net profit during the second quarter of the 2014 fiscal year, in addition to a gain of US$ 50.0 million previously announced for the sale of 40,500,000 Rite Aid shares on June 26, 2013.
Following the sale of these shares, the Corporation is no longer a shareholder of Rite Aid.
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, that employs more than 19,000 people. Furthermore, the Jean Coutu Group owns Pro Doc Ltd, a Québec-based subsidiary and manufacturer of generic drugs.
FOR FURTHER INFORMATION PLEASE CONTACT:
The Jean Coutu Group (PJC) Inc.
Senior Vice-President, Finance and Corporate Affairs
(450) 646-9611, Ext. 1790
(450) 646-9611, Ext. 1165