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The move would allow Loblaw to monetize the value of its real estate holdings, invest in its grocery business, by reducing taxes through tax advantages of the REIT structure. [citation needed] Loblaw shares increased 24% on the news. [84] On July 5, 2013, the new REIT, Choice Properties REIT, held a CA$400 million IPO. [85]
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In December 2012, Loblaw announced that it would spin-off most of its real estate properties into a new publicly listed real estate investment trust. [3] The move would allow Loblaw to monetize the value of its real estate holdings, invest in its grocery business, and take advantage of the tax advantages of the REIT structure.
U.S. stocks fell Friday as investor sentiment turned gloomy. The Dow Jones Industrial Average was down more than 300 points midmorning, while the Nasdaq Composite Index, which contains more ...
Value (billions US$) Industry 1 41 Royal Bank of Canada: Montreal 46.3 9.6 1,040.3 114.9 Banking 2 46 Toronto-Dominion Bank: Toronto 42.5 8.7 1,007.0 103.8 Banking 3 87 Scotiabank: Toronto 32.4 6.4 787.5 67.1 Banking 4 118 Brookfield Asset Management: Toronto 57.6 3.6 256.3 46.0 Finance 5 134 Bank of Montreal: Montreal 26.2 4.6 614.2 50.4 ...
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