Sears to partially spin off Canada business
By Staff Reporter
May 17, 2012 01:35 PM EDT
Deals
Sears Holdings Corp said on Thursday that it planned to spin off its Canadian arm into a separate company and sell a large part of its stake.
Sears currently owns about 95 percent of Sears Canada and would still hold about 51 percent after the spinoff, which it expects to complete this year.
Sears said it could further reduce its Sears Canada stake after the spinoff.
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