Post by
shooter1939 on May 08, 2018 8:59am
Globe & Mail story about sale of HBC Vancouver store.
Canadian department store owner Hudsons Bay Co and joint venture partner RioCan REIT have signed a conditional agreement to sell HBCs flagship store in downtown Vancouver for about C$675 million ($524.4 millionUS) to an Asian buyer, a person familiar with the matter told Reuters. The buyer, who owns a closely held real estate company, is seeking to arrange interim financing from at least one Canadian lender, according to the person, who declined to be identified as the deal has not been made public yet. The source declined to identify or give the nationality of the buyer, but said the deal is expected to be finalized by mid-June.
Comment by
talladega10 on May 08, 2018 9:39am
If this Vancouver sale actually gets completed it's doubtful if retail shareholders will get much benefit from it, so any small rise in the stock price is just an opportunity to sell this sh!t stock.