OTHER NEWS - Feb. 13, 1993
From Times Staff and Wire Reports
Canada’s Bronfmans to Shed Labatt Stake: Canada’s troubled Bronfman empire agreed to shed its 37% stake in brewing giant John Labatt Ltd. for $775 million, the second major asset sale for the group in less than a week. Labatt is Canada’s second-largest brewer--its major label is Labatt’s Blue, a popular import in the United States--and it also distributes Budweiser in Canada. Earlier in the week, the Bronfmans arranged a similar deal to sell 49.3% of Canada’s largest forestry company, MacMillan Bloedel Ltd., for $958 million.
