Printer Friendly

MAGNA INTERNATIONAL COMPLETES SALE OF SHARES

 MAGNA INTERNATIONAL COMPLETES SALE OF SHARES
 MARKHAM, Ontario, Nov. 29 /PRNewswire/ -- Magna International Inc.


(NASDAQ: MAGAF) announced today that it has completed the previously announced sale of 6,050,000 Class A subordinate voting shares at $16.50 per share.
 The shares were sold to the public in both Canada and the United States using a short form prospectus filed in both jurisdictions in accordance with the Multijurisdictional Disclosure System. The transaction was underwritten by Burns Fry Limited, Richardson Greenshields of Canada Limited, ScotiaMcLeod Inc. and First Marathon Securities Limited. Proceeds of the offering, totalling approximately $100 million will be used primarily to reduce debt.
 -0- 11/29/91
 /CONTACT: David Copeland, executive VP and CFO of Magna International, 416-477-7766/
 (MAGAF) CO: Magna International Inc. ST: Ontario IN: SU:


CK -- NY010 -- 8038 11/29/91 10:03 EST
COPYRIGHT 1991 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1991 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Nov 29, 1991
Words:138
Previous Article:MASTERCARD AND HERMAN'S OFFERS DISCOUNTS ON DOWNHILL SKI VACATIONS THIS ALPINE SEASON
Next Article:PACIFIC TELECOM, CABLE & WIRELESS TERMINATE MERGER AGREEMENT


Related Articles
Magna Completes Class A Subordinate Voting Share Offering
MAGNA AND INTIER ANNOUNCE PRICING OF INTIER AUTOMOTIVE INITIAL PUBLIC OFFERING.
Magna and Intier announce Pricing of Intier Automotive Initial Public Offering.
COMPLETION OF CONVERSION / REDEMPTION OF 5% CONVERTIBLE DEBENTURES DUE 2002.
Joint Press Release - Magna and Tesma announce agreement to merge Tesma with the Magna Steyr Group.
Magna announces shareholder approval of MI Developments spin-off.
Joint Press Release - Tesma Privatization Completed.
Decoma Privatization Completed.
Joint press release - Tesma privatization completed.
Decoma privatization completed.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters