Albertsons Plans to Raise $1.5 Billion in Grocery Chain IPO

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  • Offering will cut debt after last year's takeover of Safeway
  • Proceeds may reach $1.76 billion with over-allotment option

Albertsons Cos. plans to raise about $1.53 billion in an initial public offering to pay down debt after the deal that brought the U.S. supermarket chain together with Safeway Inc.

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