Gendis selling stake in Pioneer, Saan retail unit

Article Abstract:

Conglomerate corporation Gendis Inc of Winnipeg, Manitoba, is planning to sell its interests in Pioneer Natural Resources and its Saan Stores Ltd division. Gendis will sell its 2% stake in Pioneer to the public for about C$27 million. Gendis will also spin off its money-losing Saan retail division, possibly through a management buyout. The proceeds from the divestments will be used to reduce the company's debt.

Wholesale Trade, Crude Petroleum and Natural Gas Extraction, Crude Petroleum & Natural Gas, Parent-to-subsidiary activities, Subsidiary-to-parent activities, Petroleum industry, Natural gas, Petroleum, Gas industry, Pioneer Natural Resources Co., Saan Stores Ltd.

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Returns a $10-billion pain

Article Abstract:

Canadian merchants' concern over rise in returned goods in the retail market, which are now worth about $10 billion, is discussed.

Market information - general, Forecasts, trends, outlooks, Management dynamics, Management, Retail industry, Forecasts and trends, Supply and demand, Market trend/market analysis, Company business management, Returns (Retail trade)

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