Universal sells Loews Cineplex stake for a dollar

By 2001-06-29T04:32:00

Universal Studios has sold its 25.5% stake in exhibitor Loews Cineplex for $1. The studio, a division of Vivendi Universal, sold more than 15m shares to investment bank Goldman Sachs, in a tax move to offset capital gains. The stake was worth approximately $1.8m based on a share price of ...

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