Jul 7, 1997 12:00 PM

MINNEAPOLIS -- Supervalu here completed its divestiture of Green Bay, Wis.-based ShopKo Stores last Wednesday, raising $305 million in the process. The company said it used the proceeds to repurchase 6.9 million of its own common shares.

upervalu received net proceeds from the transaction of $155 million, after underwriting expenses, which it immediately used to buy back its own shares.

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