The divestiture of the stores is part of another deal to secure FTC clearance for Albertons to acquire Safeway in a $9.2 billion deal. That transaction, which the companies are calling a merger, was announced in March and is expected to close in January.
According to company filings, LTC will use the proceeds of the sale to pay down outstanding debt on its unsecured credit line, fund acquisitions and current development pipeline and for general corporate purposes.
Greenbelt Resources Corp., which counts Diversified Ethanol Corp. as a subsidiary, reported a loss of $217,469 for the third quarter compared to an $18,144 profit a year earlier amid a steep decline in revenue.
With a core portfolio of assets from Palo Alto to Los Angeles, the company has started fishing for deals in the Seattle market and putting even more focus on East Coast markets from Washington, D.C. to Savannah, Georgia.
San Francisco-based Wells Fargo, one the largest employers in the Tri-Counties, is slated to open its fourth banking branch in Santa Barbara on Dec. 15. The new location is at 101 N. Milpas St. and will serve retail, mortgage and business banking customers. Wells Fargo signed the lease for the 2,600-square-foot former Blockbuster location in Read More →
The D.C. store is the first full realization of the omni-channel concept, unveiled at the Deckers’ Goleta headquarters in March, which uses touchscreens and tablets to turn its stores into a sort of Apple store for shoes.
