MOLSON SELLING CANADIENS TO FOCUS ON BREWING
By Adnews Staff
Montreal-based Molson Inc. announced Tuesday at its annual meeting that it plans on selling its controlling interest in the Montreal Canadiens Hockey Club. The move is part of Molson's goal to concentrate on its core business of brewing. Last September, when Molson announced it decision to sell the Molson Centre arena in Montreal, certain parties expressed interest in a deal that would include both the Molson Centre and the hockey team, said Molson spokespeople. While Molson will entertain potential buyers from anywhere on the globe, the company stated that any sale will be conditional on the team's remaining in Montreal. Molson will continue to be the team's primary corporate sponsor for a minimum of 20 years. That commitment is estimated to be valued at over $150 million.