Stewart McKelvey advises Sobeys on $5.8B deal

It’s a “Big Deal” worth $5.8 billion …  Empire Co Ltd, the operator of Sobeys, will acquire Safeway Inc’s Canadian assets in the largest deal in Canada so far this year.

Lead counsel for Sobeys and its parent Empire is Stewart McKelvey, with a team of lawyers based in Halifax. In addition, Stikeman Elliott LLP is assisting on competition matters; McCarthy Tétrault LLP is assisting on international tax matters; and Sullivan & Cromwell LLP in New York is assisting on matters related to US law.

Latham & Watkins LLP is leading for Safeway, with Blake, Cassels & Graydon LLP as Canadian counsel.

Tax provisions factor prominently in the structure and terms of the deal, according to a recent story in Business Law Currents.

The transaction is expected to close in the fall of 2013.

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