Jean Coutu Group divests remaining Rite Aid shares

Rite Aid announces expiration of debt-buyback offer

NEW YORK — The Jean Coutu Group is selling the last of its shares in Rite Aid Corp., according to a regulatory filing.

In a filing with the Securities and Exchange Commission Wednesday, the Quebec-based pharmacy retailer announced that it would sell 65.4 million shares in Rite Aid at a price of $192.2 million.

Jean Coutu originally acquired 250 million shares of Rite Aid in 2007 as part of Rite Aid's acquisition of the Brooks and Eckerd drug store chains, originally announced in 2006. In June 2013, Jean Coutu announced the sale of 72.5 million shares of Rite Aid, reducing its holdings in the company to 7.2%.

In another SEC filing Wednesday, Rite Aid said its offer for all outstanding 9.5% senior notes had expired, and that most of the $800 million in notes had been put up for sale.

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