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Canada's Competition Bureau approves Sobeys-Safeway deal

Empire Co Ltd, the operator of Canadian grocery chain Sobeys, said on Tuesday that Canada's Competition Bureau had approved its acquisition of substantially all of Safeway Inc's assets in Canada.

As part of the approval, Empire has agreed to divest 23 stores spread across the provinces of British Columbia, Alberta, Saskatchewan and Manitoba.

In June, Empire announced it was acquiring Safeway Inc's assets in Canada for $5.7 billion, in a move that would nearly double its reach in the country's western provinces.

Source: www.reuters.com

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