142037
139955

Business  

Shaw selling Corus

Shaw Communications Inc. is selling its stake in Corus Entertainment Inc. for $548 million.

Under the deal, the cable and telecommunications company will sell 80.63 million class B Corus shares at a price of $6.80 per share through a secondary offering.

Corus shares closed at $8.06 on the Toronto Stock Exchange on Tuesday.

The sale represents a roughly 38 per cent stake in Corus.

Shaw said the money from the sale will be used for general corporate purposes, which may include the repayment of debt.

Corus will not receive any of the proceeds of the sale.



More Business News

138100
140028
137176
Data from CryptoCompare
Recent Trending
137301
Soft 103.9
142987
Castanet Proud Member of RTNDA Canada
142998
Press Room
136045