HUDSON'S BAY TO SELL WHOLESALE UNIT
<Hudson's Bay Co> said it signed a
letter of intent to sell its Hudson's Bay Wholesale unit to a
private investment group. Terms were not disclosed.
    The company said Normal Paul, a member of the private
investment group, will head Hudson's Bay Wholesale management.
    The unit's existing management group, headed by Ron
McArthur, will also participate in ownership, the company said
without elaborating.
    The wholesale unit is a major distributor of tobacco,
confectionary and other products through 34 wholesale and 28
vending branches in Canada. 1986 sales were 798 mln dlrs.
    Hudson's Bay said the sale of its wholesaling unit is part
of a program to concentrate financial and management resources
on its core business of department stores and real estate.
 Reuter
