Loblaw to create one of the largest Real Estate Investment Trusts in Canada

About this update from George Weston Limited

[{"type":"text","content":"\n\n\n\n\n\nTORONTO, Dec. 6, 2012 /CNW/ - George Weston Limited (TSX: WN) (\"Weston\")\n announced today that its subsidiary Loblaw Companies Limited (TSX:L)\n (\"Loblaw\") intends to create a Real Estate Investment Trust (\"REIT\") to\n acquire a significant portion of Loblaw's real estate assets and to\n sell units of the REIT by way of an Initial Public Offering. Loblaw\n estimates that it will initially contribute real estate with a current\n market value exceeding $7 billion to the REIT and intends to retain a\n significant majority interest. This development was announced by way of\n a news release issued by Loblaw earlier today and can be found at www.loblaw.ca.\n\n\nForward-Looking Statements\n\n\nThis News Release contains forward-looking statements about the\n objectives, plans, goals, aspirations, intentions, strategies,\n prospects and opportunities of Weston and Loblaw. Forward-looking\n statements in this News Release include statements relating to the\n proposed REIT transaction and expected future attributes of the REIT\n following the transaction and Loblaw's expected ownership level in the\n REIT.  These forward-looking statements are not historical facts but\n reflect the Company's current expectations concerning future plans,\n actions and results.  These statements are subject to a number of risks\n and uncertainties that could cause actual plans, actions and results to\n differ materially from current expectations including, but not limited\n to, unanticipated developments that may delay or negatively impact the\n proposed transaction, changes in economic and market conditions, and\n other risks and uncertainties discussed in the Company's materials\n filed with the Canadian securities regulatory authorities from time to\n time, including the Enterprise Risks and Risk Management sections of\n the Management's Discussion and Analysis (\"MD&A\") and the MD&A included\n in the Company's 2011 Annual Report.  There can be no assurance that\n the proposed transaction will be completed as anticipated or at all.\n Readers are cautioned not to place undue reliance on these\n forward-looking statements, which reflect the Company's expectations\n only as of the date of this News Release. The Company disclaims any\n intention or obligation to update or revise these forward-looking\n statements, w...

More updates from George Weston Limited