Jean Coutu Completes 65.4M Rite Aid (RAD) Share Sale

July 18, 2013 12:15 PM EDT
In accordance with the provisions of Rule 144 under the U.S. Securities Act of 1933, The Jean Coutu Group (PJC) Inc., filed on July 17, 2013 a notice indicating its intent to dispose of its 65,401,162 common shares of Rite Aid Corporation (NYSE: RAD). 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.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Corporate News, Hot Corp. News, Insider Trades

Add Your Comment