The Jean Coutu Group Sells Rite Aid Shares
LONGUEUIL, QUEBEC -- (Marketwired) -- 06/26/13 -- 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 Quebec, New Brunswick and Ontario under the banners of PJC Jean
Coutu, PJC Clinique, PJC Sante and PJC Sante Beaute, which employs
more than 19,000 people. Furthermore, 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 more than 4,600 drugstores in 31 states and the District
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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