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View Full Version : Magna's "wiggle" room just about gone

rrbauer
08-06-2008, 04:21 PM
Need to refinance substantial amounts of debt or looking at default and the ultimate financial foreclosure.

http://www.reportonbusiness.com/servlet/story/RTGAM.20080806.wmagnaent0806/BNStory/Business/home?cid=al_gam_mostview
takeout
08-06-2008, 06:49 PM
And now they’re talking about maybe selling off a majority interest in Santa Anita. Wow!

Why would you sell a majority interest in a racetrack? I would think they would either want to control it or get out all the way.
rrbauer
08-06-2008, 07:57 PM
Here's a link to the Santa Anita story:

http://news.bloodhorse.com/article/46484.htm
alhattab
08-06-2008, 08:57 PM
And now they’re talking about maybe selling off a majority interest in Santa Anita. Wow!

Why would you sell a majority interest in a racetrack? I would think they would either want to control it or get out all the way.

Because they need the $ immediately.