Sears Canada Announces Sale of its Minority Interest in Trois-Rivières Joint Arrangement

Sears Canada Announces Sale of its Minority Interest in Trois-Rivières Joint 
Arrangement 
TORONTO, May 16, 2014 /CNW/ - Sears Canada Inc. (TSX: SCC) announced today 
that it has entered into an  agreement  for the sale of its 15% minority 
ownership interest in the Centre commercial Les Rivières shopping centre in 
Trois-Rivières, Quebec, a joint arrangement the Company holds with affiliates 
of Ivanhoé Cambridge, for pre-tax consideration of $33.5 million.  Ivanhoé 
Cambridge is purchasing the 15% interest that it does not already own from 
Sears.  The transaction is subject to customary closing conditions and is 
scheduled to close on June 2, 2014. 
Sears will continue to operate its department store in the shopping centre, 
and Ivanhoé Cambridge will continue to manage the property.  This transaction 
will have no effect on associates employed at the store, nor on the operation 
of the store which will continue to serve the residents of Trois-Rivières and 
surrounding area as it has proudly done since 2000 and since 1971 in its 
previous location in the same shopping centre. 
About Sears Canada
Sears Canada is a multi-channel retailer with a network that includes 176 
corporate stores, 234 Hometown stores, over 1,400 catalogue and online 
merchandise pick-up locations, 97 Sears Travel offices and a nationwide repair 
and service network. The Company also publishes Canada's most extensive 
general merchandise catalogue and offers shopping online at www.sears.ca.
 

SOURCE  Sears Canada Inc. 
 Contact for Media:Vincent Power Sears Canada, Corporate Communications 
vpower@sears.ca 
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CO: Sears Canada Inc.
ST: Ontario
NI: RET  
-0- May/16/2014 21:00 GMT
 
 
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