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
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|Date:||Nov 29, 1991|
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