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24April
2018

Retail retailer Kroger will buy back its own shares for $ 1.2bn

Kroger Co. approved the repurchase of its own shares for $ 1.2 billion in addition to the announced in mid-March program of $ 1 billion.

Kroger Co. approved the purchase of its own shares worth $ 1.2 billion in addition to the announced in mid-March program amounting to $ 1 billion for these purposes will be channeled funds received from the sale of the department of convenience stores of the British EG Group. It includes 762 outlets, including Loaf ‘N Jug, Kwik Shop and Tom Thumb, located in 18 states. They employ about 11 thousand people.

The British retailer will begin work in the USA for the first time. He does not plan to change the current names of stores. About the transaction, the amount of which is $ 2.15 billion, was announced in February. After the payment of taxes, Kroger will receive about $ 1.7 billion. Part of the revenue the company will send to reduce the debt.


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