Stronach gives his empire a shakeup: Racetrack unit being taken private in bid for cash to redevelop key U.S. tracks

Article Abstract:

Frank Stronach offered $285.8 million (U.S.) bid by his MI Developments Inc. to buy out minority shareholders in Magna Entertainment Corp. The move was meant to help the racetrack operator raise money to redevelop key U.S. tracks.

Financial management, Facilities & equipment, AMUSEMENT & RECREATION SERVICES, Finance, Buildings and facilities, Entertainment industry, Company financing, Racetracks (Automobile racing), Magna Entertainment Corp., Racetracks (Automotive racing)

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Magna extends global reach with purchase of Porsche unit

Article Abstract:

The details on Magna International Inc.'s acquisition of Porsche AG's CTS Fahrzeug-Dachsysteme GmbH, for $232 million, are presented.

Motor vehicles and car bodies, Germany, Motor vehicle parts and accessories, Parent-to-subsidiary activities, Subsidiary-to-parent activities, Automobile equipment and supplies industry, Automotive parts industry, Automobile industry, Magna International Inc., Porsche AG, Subsidiaries, divisions and units

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