07 May 2001

Phew, it’s done

They play it by the book. As the financial markets have let it known that they prefer focussed companies to heavily diversified ones, Molson Inc. decided to sell its majority interest in the Montreal hockey club Canadiens - after "a thorough examination of its (Molson’s) role in the sports and entertainment industry", as it was put. Since June last year, prospective buyers have been more than welcome. In the end, Colorado businessman George N. Gillett Jr. made the deal and purchased an 80.1 % controlling interest in the hockey team and 100 % of the Molson Centre in a deal valued at $275 million. Molson will retain a 19.9 % stake in the hockey team and receive a total of $190 million in cash. Daniel J. This will give Montrealers and Canadiens fans everywhere a reason to celebrate..

Brauwelt International Newsletter

Newsletter archive and information

Mandatory field