American Stores to Sell 74 Jewel-Osco Outlets: Albertson's Inc. has agreed to buy 74 of American Store Co.'s Jewel-Osco food and drug stores in Texas, Oklahoma, Arkansas and Florida, plus a merchandise warehouse in Ponca City, Okla. In a statement, Salt Lake City-based American Stores said it had signed a letter of intent to sell the stores to Albertson's, but hadn't yet reached a definitive sales agreement. It said it expects to realize about $300 million on the sale after subtracting taxes and retained liabilities. Albertson's, which like American Stores operates both grocery and food-drug combination stores, is based in Boise, Ida.
From Times Staff and Wire Reports
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