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Kmart Sells 45 Stores to Sears

November 22, 2005

Kmart Holding Corporation, Troy, MI, will sell 45 stores to Sears, Roebuck and Co. for $524 million. The sale of an additional six stores were subject to certain conditions by Sept. 17.
As part of the agreement, Kmart will continue to operate these stores until March or April. Executives at Sears have agreed to pay the transaction in cash by April 15, 2005.
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