The Jean Coutu Group Sells Rite Aid Shares
LONGUEUIL, QUEBEC -- (Marketwired) -- 04/16/13 -- In accordance with
the provisions of Rule 144 under the Securities Act of 1933, The Jean
Coutu Group (TSX:PJC.A) filed on April 15, 2013 a notice confirming
its intent to dispose up to 72,500,000 of its 178,401,162 common
shares of Rite Aid Corporation (" Rite Aid "). The Jean Coutu Group
completed the sale of these 72,500,000 common shares today. These
shares were sold at an average price of US$2.20 per share for a net
proceed of US$158.5 million. A gain of US$49.7 million will be
recorded in the Corporation's net profit during the first 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 11.7%.
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 405
franchised stores located in the provinces of Quebec, New Brunswick
and Ontario under the banners of PJC Jean Coutu, PJC Clinique, PJC
Sante and PJC Sante Beaute, and employs over 17,000 people.
Furthermore, as of December 2007, the Jean Coutu Group owns Pro Doc
Ltd ("Pro Doc"), a Quebec-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 over 4,700 drugstores in 31 states and the District of
The Jean Coutu Group (PJC) Inc.
Senior Vice-President, Finance and Corporate Affairs
(450) 646-9611, Ext. 1790
(450) 646-9611, Ext. 1165
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