MOLSON SELLS CANADIENS
By Adnews Staff
Montreal-based Molson announced yesterday that George Gillett Jr. is the new owner of the Montreal Canadiens Hockey Club and Molson Centre arena. Molson first indicated its intention to sell its 80.1% controlling interest in the hockey team as well as the Molson Centre last June in order to focus on brewing. The $275 million deal with Gillett is subject to regulatory approval and that of the National Hockey League board of governors. Gillett is chairman and CEO of Booth Ski Holding Inc., which operates ski resorts in the U.S. He is also chairman of Booth Creek Management and managing partner of the Gillett Family Partnerships. Molson will retain a 19.9% stake in the hockey team and will continue to be a sponsor of the team in a $150 million partnership deal reached last June.