May 7, 2018 / 8:47 PM / 2 months ago

BRIEF-Fred’s Reaches Definitive Agreement To Sell Specialty Pharmacy Unit

May 7 (Reuters) - Fred's Inc:

* FRED’S REACHES DEFINITIVE AGREEMENT TO SELL SPECIALTY PHARMACY UNIT

* FRED’S REACHES DEFINITIVE AGREEMENT TO SELL SPECIALTY PHARMACY UNIT

* FRED'S INC - AGGREGATE CONSIDERATION TO BE PAID IS $40.0 MILLION, PLUS AN AMOUNT EQUAL TO VALUE OF INVENTORY OF ENTRUSTRX

* FRED'S INC - REACHED AGREEMENT TO SELL CERTAIN ASSETS OF ENTRUSTRX TO A SUBSIDIARY OF CVS HEALTH CORP

* FRED'S INC - CASH PROCEEDS FROM DEAL WILL ALLOW CO TO PAY DOWN A SIGNIFICANT PORTION OF DEBT Source text for Eikon: Further company coverage:

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