Tuesday, October 26, 2010

Sale of Carling facility

Ernst and Young, the Canadian monitors, published their 56th report and posted it on their website. The report contains the details behind the process used to sell the Carling R&D buildings.

At the time of entering CCAA and Chapter 11, there were 3000 people working in the Carling facility. Today there are about 200.

The gross sale price is $208M and the final purchaser was determined after a process which attracted 24 possible candidates.

You can look at the details of the sale on the monitor's website in their reports section, #56.

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