Sears explores sale of majority stake in Canadian arm to PE, other investors: Reuters

Sears Holdings Corp said it is considering the sale of its 51 percent stake in Sears Canada Inc, a move that could mean all of the Canadian department store operator goes up for sale, Reuters reported. Potential buyers include landlords and pension funds that want to use mall space occupied by Sears Canada, along with private equity and turnaround groups, such as Sun Capital, Hilco and Gordon Brothers. Large retailers are also potential suitors. Sears Canada, which has a market value of $1.6 billion, said it would cooperate "to achieve value for all shareholders."

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