TORONTO Legacy Hotels Real Estate Investment Trust has reported that Canadian Pacific Hotels and Resorts and James Richardson & Sons Limited have entered into an agreement to sell 10.9 million trust units at $8.60 per unit to raise gross proceeds of $93.7 million. The units will be sold to a syndicate of underwriters led by CIBC World Markets. Legacy will not be receiving any of the proceeds of the offering. The issue will be offered in all provinces in Canada and closing is expected to occur on or about May 18. (4/30/01)
Previous ArticleChoice Hotels Kicks Off Conference
Next Article Jones Lang Structures Asian Divestment Deal