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American Basketball Association to nab IEAH Sales.

MANews-(C)2009-2012

21 May 2012 - The American Basketball Association Inc (ABA), the US-based operator of professional basketball league American Basketball Association, said that it had signed a letter of intent to purchase IEAH Sales Corp from local thoroughbred horse racing stable company IEAH Stables Inc.

IEAH Sales specialises in pinhooking, or the purchase and sale of thoroughbred horses.

Financial details were not disclosed.

The move is in line with ABA's aim of diversifying beyond basketball as a sports and entertainment company, ABA's CEO, Joe Newman, noted.

IEAH Stables operates as a subsidiary of International Equine Acquisitions Holdings Inc, which is based in Garden City, in the US state of New York.

ABA is headquartered in Indianapolis, in the state of Indiana. Apart from operating the American Basketball Association, the company is engaged also in the marketing of league-related products and the development of media outlets and ancillary entertainment businesses which are complementary to the business of the league.

The American Basketball Association consists of some 90 US and foreign teams.Country: USASector: Leisure/ArtsTarget: IEAH Sales Corp Buyer: The American Basketball Association Inc Vendor: IEAH Stables IncType: Corporate acquisitionStatus: ExclusivityComment: MoU/LoI

.END.PUB430>PDMay 21, 2012>JNMANEWS.PRICEDATENOT APPLICABLE.DAY

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Publication:M & A Navigator
Date:May 21, 2012
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