STELLARTON, NS, Nov. 1, 2013 /CNW/ - Empire Company Limited ("Empire" or
the "Company") (TSX: EMP.A) has announced that Empire Theatres has
completed the sale of 46 theatres with 397 screens in separate
transactions with Cineplex Inc. and Landmark Cinemas as previously
announced on June 27, 2013.
The aggregate gross purchase price paid to Empire Theatres in the two
transactions was approximately $248 million in cash. In addition, the
transaction with Landmark Cinemas includes an earn out right to Empire
Theatres as previously disclosed, but no equity interest in the
Landmark theatre business.
Empire Company Limited (TSX: EMP.A) is a Canadian company headquartered
in Stellarton, Nova Scotia. Empire's key businesses include food
retailing and related real estate. With over $17 billion in annual
sales and approximately $9.0 billion in assets, Empire and its
subsidiaries, including franchisees and affiliates, employ more than
Additional financial information relating to Empire, including the
Company's Annual Information Form, can be found on the Company's
website at www.empireco.ca or at www.sedar.com.
SOURCE: Empire Company Limited
For further information:
Executive Vice President & Chief Financial Officer
Empire Company Limited
Vice President, Communications & Corporate Affairs