Empire Company Completes Sale of Empire Theatres

About this update from Empire Co Ltd Class A

[{"type":"text","content":"\n\n\nSTELLARTON, NS, Nov. 1, 2013 /CNW/ - Empire Company Limited (\"Empire\" or\n the \"Company\") (TSX: EMP.A) has announced that Empire Theatres has\n completed the sale of 46 theatres with 397 screens in separate\n transactions with Cineplex Inc. and Landmark Cinemas as previously\n announced on June 27, 2013.\n\n\nThe aggregate gross purchase price paid to Empire Theatres in the two\n transactions was approximately $248 million in cash. In addition, the\n transaction with Landmark Cinemas includes an earn out right to Empire\n Theatres as previously disclosed, but no equity interest in the\n Landmark theatre business.\n\n\nABOUT EMPIRE \n\n\nEmpire Company Limited (TSX: EMP.A) is a Canadian company headquartered\n in Stellarton, Nova Scotia.  Empire's key businesses include food\n retailing and related real estate. With over $17 billion in annual\n sales and approximately $9.0 billion in assets, Empire and its\n subsidiaries, including franchisees and affiliates, employ more than\n 95,000 people.\n\n\nAdditional financial information relating to Empire, including the\n Company's Annual Information Form, can be found on the Company's\n website at www.empireco.ca or at www.sedar.com.\n\n\nSOURCE Empire Company Limited\n\n Paul Beesley Executive Vice President & Chief Financial Officer Empire Company Limited (902) 755-4440 Media Inquiries: Andrew Walker Vice President, Communications & Corporate Affairs Sobeys Inc. (905) 214-6711 Copyright CNW Group 2013","length":2276,"tagName":"div"}]

More updates from Empire Co Ltd Class A