Mega Brands sells 19 per cent stake

Mega Brands has sold a 19.7 per cent stake to Fairfax Financial Holdings as part of its ongoing recovery plan.
Author:
Publish date:
Social count:
0
5_184_3993_Mega Brands Logo 300.jpg

Fairfax said it has acquired nearly 64.7m shares of Mega Brands and the same number of warrants, with each warrant entitling the holder to buy one share at a price of 50 cents at any time until March 30th, 2015.

Some 51.6m of the shares and warrants were acquired in a private placement and 13.1m shares and warrants were acquired in exchange for the cancellation of $64m convertible debentures.

Under the recapitalisation plan, Mega Brands will receive a total of $218.1m, including $121m from the sale of equity to current major shareholders and new investors.

Mega Brands has said the plan will restructure its balance sheet without affecting its employees or customers.

Related

Featured Jobs

Vivid Job Logo 620 x 349

Digital Marketing Executive - Toys & Games

Vivid is Britain’s biggest toy company and the 20 largest in the world. With offices across the globe, they sell an amazing portfolio of toys and games to over 60 countries. Vivid is best known for its association with blockbuster brands and is very excited about future opportunities around the world.

Liberty

UK Sales Agents

Liberty House Toys have been appointed as the exclusive UK distributor for the BiOBUDDi brand, and we are pleased to introduce this new unique, innovative and exciting range of 100% environmentally-friendly toy building blocks. We are seeking experienced sales agents with existing network in the toy retail market.

Gameplan Job Logo 620 x 349

Head of Product Development & Marketing

Our client is a privately owned French toy and games manufacturer which sells through distributors in forty countries. The company develops and sells innovative electronic interactive toys and games for the educational and gaming markets, and also takes suitable licenses. To progress its successful business development a Head of Product Development & Marketing is to to recruited.

HIT Entertainment Job Logo 620 x 349

Licensing Systems Administrator

The Contract System Coordinator is a newly created role to support the deal term entry process into Mattel’s new Contract Management System for its Licensing business. The role will support the Business Teams at the Deal & Amendment phase of the contracting process and act in conjunction with the System Administration team.