Supermarket chains Albertsons and Safeway agreed to sell 168 stores in eight states to win U.S. antitrust approval for their $9.2 billion merger, the Federal Trade Commission (FTC) said on Tuesday, according to Reuters.
Albertsons, which has 630 supermarkets under various brand names, and Safeway, which has 1,332 stores, will divest stores in Arizona, California, Montana, Nevada, Oregon, Texas, Washington, and Wyoming, the FTC said.
The merger between Albertsons, which is owned by Cerberus Capital Management, and Safeway will close within the next week, the companies said in a statement.
Once that happens, Safeway will be delisted from the New York Stock Exchange, the companies said.
The transaction was announced in March.
The divested stores will be purchased by Haggen Holdings, LLC, Supervalu Inc., Associated Wholesale Grocers, Inc and Associated Food Stores Inc.
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