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Tim Hortons to sell Maidstone stake

from The Canadian Press via The Globe and Mail

Tim Hortons Inc. is selling its 50-percent interest in Maidstone Bakeries to its joint venture partner Aryzta AG for nearly half a billion dollars after the Swiss company invoked a provision forcing Tims to buy or sell its entire stake. "Because of the international nature of this relationship, the value that we put on the facility was greatly different than what our partner Aryzta was able to put on it," said president and chief executive officer Don Schroeder. more

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