Advertisement

Safeway Stores Inc. converted Vons Cos. debentures...

Safeway Stores Inc. converted Vons Cos. debentures and bought common shares to boost its stake in Vons to 31%, according to a filing with the Securities and Exchange Commission. Safeway converted a $35-million debenture into 4.9 million shares Nov. 10 and bought 395,000 shares on the open market for $5 million. Safeway now holds about 12 million shares and expects its chairman and chief executive, Peter A. Magowan, will be appointed to Vons’ board.


Advertisement